I would not eliminate OKÇ based on tornadoes, that is why you carry insurance.It will very difficult to find something in Austin that fits your budget.  

Question that the “believers” don’t ask is “how much could I earn on the extra money I’m spending to pay down the loan faster?  

From day one I treated my involvement in real estate as a real business.This means, I had an advertising budget, a lead generating and follow up process, a back end process and money source and above all an experienced mentor.  

Eliminate debt, establish a budget, and save.

I can see why you want to invest out of state if that is your budget. 

Eliminate debt, establish a budget, and save.

The ways around that are to build a business around supporting their voucher and inspection program and spending no small amount of effort ensuring they are smoothly servicing your rentals. 

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.If your budget only allows for a condo, find a better place to put your money to work.   

Eliminate debt, establish a budget, and save.

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home I do want to also add that my banker who is the VP of lending and branch manager has been banking me for 30 years..WE have been through all he ups and downs including the GFC were I got almost totally wiped out financially..