@Stan MendozaRecommend 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?

I feel my skill set, with an extensive background in project management, estimating, and renovations, makes me well suited for REI and  I am eager to start taking steps to transition my career to this industry.

That is 80% of the purchase price and repairs or renovations that you can show receipts and proof right away without having to wait 6 months.

There are plenty of mood boards and renovation material ideas on there. 

I have renovated with contractors and some DIY.

It will cost less than $150,000 and will need moderate renovation work.

I stopped at the "right" part.You need to start interviewing PMs in Austin, getting a feel for prices to renovate(hvac, water heater, floors for material + labor, etc.).

Do you have experience managing renovations if needed? 

Gutted and renovated the entire unit What was the outcome?

With a 203k Renovation loan, you can also finance in your payments if you are doing a major rehab.