My goal is to purchase my first property between now and mid to late 2025.

In short: $4.25M Purchase Price. 15% down. 3.25% with seven years remaining. 

My mother-in-law wants to help my husband and I on our first real estate investment purchase. 

It seems that if you can find a good deal on the purchase price, are willing to do cosmetic updates (floors, painting, maybe a kitchen) you can get that 100-200/month cash flow.  

With a purchase price of $250k, your rent is WAY too low!

I have helped many investors purchase LTRs in Little Rock,AR, Memphis,TN, and OKC.

When the home was purchased, it was conventional loan and the basement had tenants.

The latest red flag is his belief he purchased a "fully renovated" property in Philadelphia for $115K.

There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.

It may be a little scary but if you go higher on your purchase price, 400k and up.