My wife and I are eager to get started in RE, but have low capital because of paying off all our student loans and buying a family home (finally done). We want to start by doing a BRRRR out of state (we're in TX with high prop taxes) somewhere like Columbus or Indianapolis to just generate some cash flow and get a decent cash on cash return.

Everything we read about BRRRR makes it sound like you can start no problem with little capital, but the more we learn the more disheartening it gets. Sounds like to get hard money you still need at least 20-25% down payment on top of paying the points. Is this always the case?

Anyone have any solid advice for a couple trying to get into RE with low capital? Or should we really just wait until we can get at least 20-25% down plus other costs? Currently we could pay for points, interest, and closing on a refi, but not a down payment.