People also love the back deck with the string lights and a nice seating area. 

I am actually closing on my first duplex in Milan in a couple of weeks.

You could get at max 70k from that deal (minus closing costs).

Close to the University of Virginia and a large research hospital.

Quote from @Chinku Chinku: Got a townhome in suburb area of Houston for long term rental close to katy mills (<5miles).

That could come close to covering expenses.

If you need a new job once you move, you will need an offer letter prior to closing on your new home (and you will need 6 months reserves in order to be able to use the offer letter as income). 

To qualify for a loan, focus on having a credit score of at least 620 (or 580 for FHA loans), keeping your total monthly debt under 43% of your income, and saving enough for a down payment and closing costs—about 5-10% of the home's price in total.

Without a firm base and working familiarity with these three areas the investor will not have the knowledge to analyze, negotiate and close advantageous real estate transactions. 2- Experience - the first few deals are likely to be smaller, harder, with more “surprises” and not as profitable as the investor imagined.

Weirdly, you may actually be able to get better terms and/or more LTV on the refinance if there is debt on the property as lenders have rules for max cash in hand (max proceeds you get at closing) for cash-out refinances.