The National Weather Service has issued a FLASH FLOOD WATCH until 7:00 a.m. Tuesday morning for Central Texas.
Conditions are favorable for heavy rainfall, which may lead to flash flooding. Generally 1-3" of rainfall is expected Monday afternoon into Tuesday morning, with locally higher amounts near 4" possible.

Flash Flood Watch issued for the counties in green.
Be especially cautious overnight if you live in a flood prone area, and never drive or walk through flooded areas. The phrase "turn around, don't drown" applies.
The Storm Prediction Center has placed all of Central Texas in a "slight risk" (level 2 of 5) for the potential of seeing some strong to severe thunderstorms Monday afternoon and evening.
The main hazards Monday are large hail (up to around golf balls) and damaging straight line winds (60+ mph). Large hail should be the primary hazard early, before transitioning to a predominant severe wind and embedded hail risk. The tornado threat is low for Monday but is not completely zero. A brief spin up is possible. 

On Monday, The Storm Prediction Center placed Central Texas at a slight risk for severe thunderstorms.
A cold front moved into Central Texas' northwestern counties Monday morning and will continue to move southeast during the afternoon and evening. Showers and thunderstorms will develop along and ahead of the front.
The front is expected to slowly move into southeastern counties of Central Texas by late evening and stall out overnight. This will act as a focal point for more scattered showers into Tuesday morning.