I know this thread is really old. But for anyone else trying to find shit to do in austin, there are a few punk co-op houses there. I used to live at a place called the comal house. Its a different crowd of kids there now but they're still traveler friendly as far as I know and they will probably put u up for a few nights. Its on Comal and 21st. Its easy to figure out which house it is. Lots of bikes etc. There's also the spotted dick house in austin Cant remember exactly where that is but if you ask around at the comal house someone will point you over there. The Spotted dick house has lots of good shows. Fuck hangin out on guadelupe, its mostly "oogles" and junkies and rude frat boys and sorority girls.
not sure if the comal house is still kicking these days. but spotted dick is, and though it's pretty chill these days, they're open to taking some kids in if you a) know someone who's stayed there previously or b) go to one of their shows and ask about it.
the spotted dick house is in east austin, tucked away in a sort of quiet neighborhood off of 7th street & pedernales. a few blocks west of that intersection behind a yellow convenience store / gas station ("major brand gas") is another [bike] punk house-- the skidmarx house. they throw shows and host bike-in movies. if you show up for chaos in tejas, lots of shit goes down here, and you can definitely pass out anywhere nearby.
you will definitely find street kids on guadalupe, but it's right in west campus, so there are tons of students. you can find free food there though. check out veggie heaven. it's a vegetarian chinese restaurant. after 6pm (approx), they give out free stir-fry with rice. also, ny hot slice right next to cream vintage (guadalupe & dean keeton) gives away their pizza at the end of the day. you'll also find free snacks at the church a block over and a few blocks down that functions as a drop-in center.
it's definitely hard to squat downtown austin as there are lots of cops (and believe me, the cops SUCK in texas), but if you're staying in town for a while, explore the east side. there are lots of empty houses in mildly rough neighborhoods. they won't give two fucks if you squat for the most part.
either way, good luck.