I cannot predict the future, but if the dollar gets debased and then 2 year tightens, or remains on par, to the 10 year then housing becomes even more unaffordable.

I would ask for a rate near par to see what the breakeven period is on the points.

I'm curious if anyone has used Home Depot to source a contractor to do the work needed to get the property up to par to rent? 

Your ethics may be different, and in no way "wrong" or sub-par to mine.

Once those are completed, I plan to rehab the vacant unit and bring it up to par to the unit I occupy and finally rented out. 

First, ensure your credit score is up to par to receive your pre approval.

And @Adam McQuiston 2010-2017 saw an average of 152 new Austin residents per day (roughly 55,000 per year averaged).  2019 growth projections were on par to hit 167 new residents per day (roughly 61,000 per year).  

We are also currently bringing our owned 22 year property up to par to rent, as our current fixed rate mortgage payments are quite low compared to the going rent in our area.

Property will come with a tax deed (sub-par to general warranty), so make sure you get a lawyer to fix that via quiet title.

See this link...https://sf.gov/information/par...To quote,"A single-family dwelling with a legal in-law unit constitutes a two-unit building and is not exempt from the Ordinance.