If you’re just graduating and don’t really even have a job lined up then I think it would be foolish to rush into the purchase of a property right now.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

I've purchased a few properties from you guys.

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

We purchased the house about 3 months ago and are owner financing it.

I purchased a single family to rent out the rooms and it sent my finical plan completely off course because I was not as ready as I previously thought.

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. 

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Purchase price: $395,000 Cash invested: $100,000 Sale price: $570,000 Such a fun project!