Instead you will cash flow right out of the gate and appreciation is faster in those states with TLC properties or adding things like an ADU, or Carriage home on a bigger lot.Most of my investors that live in CA purchase in those states listed above and in most cases its easy to introduce them to local Seasoned realtors Contractors, Handy Men/Women that can help them save money and feel secure about the distance from home to REI.

I love finding VA Assumption Loan deals and have personally secured one so far as a rental property with a 3.3% interest rate. 

On top of this if at all possible I’d recommend choosing specific neighborhoods to become an expert on as opposed to just thinking “anywhere in the San Antonio market could work”.

However, many DSCR lenders have a minimum loan amount of $100K, which can make it challenging for investors to secure financing for lower-priced properties. 

Unfortunately, it's now going to get more complicated:(There are two types of approaches PMCs use to bill for maintenance:1) In-house ServiceTechs on the payroll, so owners are billed for their time by the hour.While the labor charges above are useful, they don't cover the true costs a PMC incurs, like:- Payroll costs for FICA, Social Security, Medicare, etc. that typically add 25-40% to the hourly rate- Medical insurance costs for the worker- Payroll processing costs to handle all of the above- Liability insurance costs in case worker damages something or injures someone- Workman's Compensation insurance- Costs of vehicles and tools- and more...Typically the management contract will disclose the total hourly rate an owner will be charged.

There are risky, but high return options like QQQ which grew 27% over the last year or on the other side / safe end, there are super secure short term US government bonds like SGOV which pays out about 4.5% in dividends. 

The most common is leaning on your agent for their expert advice.

Get a small MF you can house hack and start that way.I'm not an expert on the auction scene, but, from what I have read, that is a challenging first step into investing. 

For the HVAC, I'd just question if that's the correct and best way to go about it, but I'm not an expert, but certianly you won't get interest listing a unit for rent or sale without HVAC.

If not, negotiate to buy it, get future cash flow secured, & take the next couple months to do the updates in between guests then get updated photos.