Hi There - We have had several clients make the numbers work here in Chicago typically with either FHA 203k and home style renovation loans.I continue to remind everyone that a single or walk right now will be a double, triple, or even a home run down the road. 

Everything has been cash so far but I have contacted several local banks and all of them have said about 1-2%+ above regular mortgage rates, 3-5y ARM with 15-25y term, and 20-30% down.

Also in terms of identifying good areas, I'd speak with several realtors and property management companies to hear their opinions on what sells.

The last house I put on Zillow and that worked out well as several people were pre-screened by Z.  

Over the whole year we have had higher listings than the previous year (the last several years have had lower and lower inventory each year).

I would bet there are several around where you are.

Several large developers have built beautiful high end condo feel student apartments super close to campus which initially depressed rents in houses.

and you may have to contact several hundred leads just to get a deal.do you know which types of leads you will go after? 

Please feel free to reply or DM.Invest 5S is currently offering several build-to-rent investment units in San Antonio area. 

Today same car is worth few thousand more still.Plan would be to drive for several years.