For example do you have a great w2 and can you afford to cover costs of a major repair or 3 months of vacancy?

I'm not an loan officer, but I know some banks locally like ORNL Credit Union have offered a 0% down conventional loan product.

It’s affordable and easy to set up, but not essential.

But if the situation arises I can't afford to have a tenant fall back 2+ months on rent.

@Chris CoreThere are real estate investment opportunities across various markets, particularly in the Midwest and Southeast regions, which offer affordable purchase prices for most investors.

Many successful investors started small, such as with house hacking or buying affordable properties to rent out.

You should start with a focus on a 2 unit multifamily property in a market that you can afford to get into. 

@Adam Luepke Yes, there are plenty of more affordable rental opportunities in MO.

Taxes are reasonable (in most areas), and there is a significant lack of quality affordable housing.  

For the most part, most lenders are going to be relatively close in cost assuming we are talking about a straight forward loan product, we all borrower from the same pool of money to make these loans.