So I had a windfall and can sort of "semi retire" with a part time low stress job. 

@Rishika Garimella I am a local home inspector and investor in the area. i think Austin is a sleeping giant right now. the rates are really scaring away buyers. but since competition is so low right now, its a great time to snag some property while its not being ripped apart by investors. i think the hutto manor area is a great choice, once that freeway opens up that connects taylor to round rock, it will definitely become a point of interest.

Tornado, wind, hail, flooding if in a low spot, general weather related.

Hi Vincent, there is a significant difference in true Hard Money and rehab loans, rehab loans won’t be low doc by any means.Hard money should be fairly simple & quick to fund, it’s strictly equity based.How bad is the condition of the property?

Index funds beat those returns by a long shot and don't have furnaces to replace or tenants to deal with.As I see it, the only way to actually cash flow in the current market is to do a higher effort strategy (STR, MTR, rent by the room, etc.) or have low to no leverage. 

While you might find a lender offering low down payment options, you'll still need cash reserves for repairs, maintenance, emergency fund (ideally 3-6 months of expenses), etc.

While that's certainly not ideal, my leverage was low to start with and my loan maturities were ten years so I have staying power to sell into a better market.Looking ahead, anything I'd buy would have to cash flow out of the gate in a higher-rate climate. 

Looking to cash flow on low entry homes in some pretty nice neighborhoods close to where I grew up.

Does anyone know a lender willing to lend on 40k with a day out of foreclousre up to 50%LTV with a low 500 credit score?

That protects you from having to sell to  low.