If you are buying to live in, you could also do FHA with a cosigner.

Please feel free to direct message me if you live in the El Paso area and/or would simply like to connect, thanks!

I live here and I haven't seen more FSBO but I'm seeing a lot more wholesaling activity.  

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

I like the detailed descriptions others have given, but I also keep it simple:A: I’d live there with my familyB: I’d live there if I had to with my family C: I’d live there if I was single D: Nope

Find a partner, find co-workers/friends/relatives you wouldn’t mind living with, find a property you can buy for less than your current rent.

Story I got was that she lives out of state, thought she had family local to help manage it but they are moving.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

I would recommend that you start with buying a primary residence using a low down payment loan, like a 5% down conventional loan, live in it for a year or two and then keep it as a rental when you go and buy your next primary residence using another 5% down conventional loan.

If you are just starting out, this is for you:When you buy an investment property, it is treated differently than a house you are going to live in.