There’s a whole lot to learn on both sides, but there are a lot of people here and around you who are likely willing to help.

As well as that side of due diligence, I reckon your greatest asset will be: having the right Property Manager.

This is a additional screening tool.In my opinion M2M has all the upsides advantages of being in full control of your investment property with no down sides.

Property in Austin is also more affordable compared to other hot areas, including the Bay Area and Seattle.

Welcome to the active side of BP @Michael Puzzo!

I'm not really an investor, but do own one single-family house in a great inner east-side neighborhood that was my primary residence - I now rent it out and receive some positive cash flow.  

You have to make sure you don't get on the wrong side of the law by advertising but if you have existing relationships you can leverage those.

If I could rent out both sides (after I move out) for $1,200/ month, which I think is reasonable for this area, that would be $2,400 gross monthly rent on a $140-180k property (just over the 1% rule).

I have never had a problem renting it but the rents have always been on the cheap side.

I would like to find a live in flip opportunity around me but everything on MLS is obviously very hot price wise even if its in bad shape.