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.

I'm not sure why you 'cannot really afford to lose' this job.

That he can weather for 10-15 years, but not 3 at 25% down with $25k in reserves($300k in sale price would afford). 

You also have the options of the 2 + 1 which is a 2F with a boarder unit that an owner can live in, but likely can't rent after you leave so it's only a temporary solution depending on how stringent the municipality is.Your VA gives you lots of options, but you won't cash flow if you use at 0 percent down because rates are too high.

Just like regular tenants, try to avoid S8 tenants who can barely afford your place.

Do that enough times and you'll eventually find a deal you can afford.

@William Stewart If you were able to find a solution, I would love to know - I am in the same boat now.

There is a simple solution.

Find the best property you can afford that also can produce enough income so that your monthly out of pocket expense is equal to or less than what you'd pay in rent.

You could probably afford $20,000 without much impact on your budget.