Ability to repay - can you as the borrower afford the payments based on the loan amount.Typically they will not take into consideration the mortgage on a new property that has not been taken out as that is new.

., or Boston, Philadelphia offers relatively affordable rent, or section 8 tenants, especially those who are relocating from more expensive areas. 

Memphis has a pretty affordable housing market and tends to offer solid rental yields, which might align well with your goals.Let me know if you need any more info or want to chat further about this.

There are circumstances that having a low downpayment is beneficial, but personally, I'm not a fan of PMI if you can afford the 20%.

Way way too often Mrs. wants to stay, but realistically can't afford to stay with one income....and it is just a downhill disaster finacially the longer they stay.   

Once the time is right, with enough research, I would jump into a market (hopefully local if affordable) and get started.

I also plan on starting to have my realtor send me MLS properties that popup in the Indianapolis area and start looking through numbers and pricing to see what I can afford and be beneficial.

We weren't sophisticated enough to call it that, but we were both on board because I liked the potential upside and my wife loved the neighborhood (that we could not have afforded to get into unless we bought a dump of a house).

I'm looking to potentially do the same thing in Queens now where there are some more affordable mutlifamilies.

I have not seen anything over 80% nor would any of my properties be able to afford a loan of more than that with these rates.