For instance if I'm flipping a house I might work from 6 am until midnight with a few breaks in between.  

Would love to find out where the homes are located that they are selling.http://www.bloomberg.com/news/articles/2015-07-13/...I've seen many of their homes which are rented under the Invitation Homes banner.

Even fully rented it would barely break even.

I wouldn't let a bank appraisal that is only 1% below the agreed on price break the deal.

If not, you should allow her to break the lease and potentially help her move (make the seller give you a credit or have them handle as a condition to close). 

I may be biased because it's my adopted home, but Austin is nice.It's rated #1 by Forbes as a boom town:http://www.forbes.com/sites/joelkotkin/2016/01/14/...Top three cities to find a job:http://austin.culturemap.com/news/city-life/01-04-...One of the best to start a career (which is different than finding a job:http://austin.blog.statesman.com/2016/02/03/austin...Ranked #1 city for young families:http://austin.culturemap.com/news/city-life/05-10-...There are a lot more of these articles, these were just the first five that came up when I Googled "best cities to live".

Click on article here: http://www.cbc.ca/news/canada/british-columbia/real-estate-shadow-flipping-1.3575906.

Gotta break out your crystal ball for that one.

I believe it's in chapter 8 or 9 that he talks about what his strategy is for breaking in to new areas.

The challenges are:Condo association may not allow you to rent them or only allow for certain amount of time.Association fees eat into your cashflow and if they get raised or there is a special assessment there's nothing you can do.If there's a problem with the tenant and they break one of a hundred association rules, you're caught between them and the association.