We stayed four colleagues at Rolands trailer during SXSW 2016 and it was perfect.
The "trailer" is really nice with lots of details and all the accessories you'll need: iron, dryer, dishwasher, washing machine, a big fridge and AC.
It's located in a residential area 15-20 minutes north of Austin - depending on traffic. So you'll need a car - or use Lyft/Uber/cabs - which we did. A normal rate is about 20 USD I think.
There is a store (drinks/snacks) just down the road. For restaurants and groceries you would need a short drive.