Temple is not part of the Austin metro area, but within a long commute range for a few.

Given your residency limits, the high prices in NYC and surrounding areas are a challenge, but there are still options in neighborhoods further out within your allowed range, like parts of Queens, Brooklyn, and the Bronx.

Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

There are duplexes being sold on the mid - upper range of that price bracket, that need a little work. 

There is a range of DSCR lender underwriting policies for "1st time investors" - some don't allow it, some do with no restrictions, and some in the middle (typically cut max LTV by 5% or so and restrict against anything over 4 units)Also - check out these BiggerPockets articles for a ton of info about DSCR loans:DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

We thought about hiring a lawyer but the legal fees were expected to be in the range of $10k to $15k and would have taken months (if not years).

Would the fact that our house is in the ~ $850k valuation range influence your advice? 

My total expense ratio on each property I own ranges anywhere from 40%-50% annually, but I also self-manage and am not a slumlord (I am pro-active with maintenance, not reactive).

You can PM me or send me an email which you can find on my profile because BP won't let me post it here in the body of a message.  

The property is in Joseph Lee and in the 250k range (but it is a duplex) The PM is downright awful.