Hi, new here. Some pretty basic questions

[Jeff Robson]

Hi, I will be paying off the rest of my debt within 6 months and looking at investing in real estate after that. I am salaried at $62,000 and have 800 credit. I am looking at homes around $175,000 in Texas, where I live. Some of my questions are:

- What down payment % will I need for an investment property?

- Will I be approved for at least $175,000?

- What is the benefit of this versus buying a house for myself? For example, I rent for $900 a month and could buy an investment property that would probably cost around $1,500 all in a month and then hope to rent for $1,600 or so. How does this compare with me just buying the property for myself and eliminating the $900 wasted rent each month?

- As a follow up to the above question, are investment properties really meant for somebody who already has a property of their own that they are building equity in?

- One final question, taking the above two questions even further: what if I buy the property for myself and then rent out 1 or 2 bedrooms for a fair rent?

Thanks!