Here are some examples- 3/2 in class a rents for $6k in my market.  3/2 in class c- rents for as low as $2.5k.  

A few recommendations - learn as much as you can from books, podcasts, and attending free or low-cost real estate investor meetups in your area (in-person is best).

They also likely save you time.You can certainly still buy in DFW for $400K and maybe as low as $250K depending on where you want to buy. 

If you use a DSCR rental loan it could be as low as 3-6 months of time seasoning required so it depends on what product you're using to accomplish the mission/goal.The time frame isnt a legal requirement, its a financing product specific requirement as a guideline to obtaining the money in which you seek.If you had other scenario related questions feel free to mention them below or via DM.

If prices are high and supply is low, it may be worth taking on a major battle.Jon

Hi @Shibu ThomasThere are many garden level apartments in my area, They have low ceilings and sound similar to what you are describing. 

From my experiences, I would not take on low end rentals and all the risk and work they entail if I had the budget for a solid middle to higher end option.And finally, as you do start looking more seriously at actual properties, bring your questions here and weigh the various answers you will get.

Maybe this is naively low.

I've been looking at off market properties in Austin TX and the surrounding areas and have seen that due to the high demand so to speak in this area the prices for a BRRRR property would mostly be around $300K or more, with the exception that I've seen a few properties in the low $200Ks.

I am hoping for lower interest rates but I calculated I would need the rate to be low 3’s to break even.