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

Lending was another challenge, lending restrictions were starting to tighten up, and we had to get a bit creative with our lenders to get the financing we needed to close.

That could come close to covering expenses.

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

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.

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.  

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.

Ideally, I would like to buy a 2-4 unit, but I'm not closed off to a single family and renting out the rooms.Any advice would be greatly appreciated!

Comps can show one thing but actually closing can be another.