They are inexpensive, they usually come with mineral rights (big plus in Texas), they typically have short redemption periods, low rehab costs, and sell quickly at the right price; they also have large ROI. 

I have taken a Dave Ramsey approach to my personal finances so have a pretty low nut.

The net result is basically the same, but it keeps the two properties separate from a lenders perspective.Any low down payment money, particularly on an investment property, is going to come from a private money lender.  

AlabamaAlabama residents enjoy a low cost of living and a thriving economy.

Look for properties with low taxes, separate utilities, strong demand, and potential for rent increases.

AlabamaAlabama residents enjoy a low cost of living and a thriving economy.

This would also allow me to keep my primary at a low rate loan. 

----------------------------------------------------------------------------------------------------If I had to start all over again, I'd look to acquire a 2-4 unit property with an FHA low-down payment mortgage.

But we moved out the low rent tenants and after the rehab we filled all units with market rent tenants.

In multifamily here in Reno, NV (just over the hill), we have seen some great deals with higher cap rates for buyers, but also very low cap rates on some renovated, turn key inventory.