As a property investor myself I primarily work with investors seeking a good Return on Investment or as we refer to it ROI. I strive for a minimum of 8% ROI for myself and my clients rental properties.
Austin is a great city to be investing in right now, there are many emerging areas that are rapidly transforming as the city continues to grow.
With your budget I feel you have a reasonable expectation on return. Personally I feel you could net higher than a $300.00 profit on a $150K budget. Each property has a different set of variables. For instance 1 property may be less expensive, but the monthly HOA payment is higher. You'll make a better return purchasing a property that needs some minor updating, but that still qualifies for a mortgage.
I would be happy to discuss investment strategies and opportunities with you any time.
Steven Van Orden
Pauly Presley Realty
2401 East 6th St. # 3033
Austin, TX 78702