But, yes, it sounds like simply looking at your numbers and determining whether or not you can absorb a salary is the time to consider it. 

Purchase price: $350,000 Cash invested: $10,000 House hacking my first home by converting the master bed into an independent studio that we rent on Airbnb What made you interested in investing in this type of deal?

Quote from @Dennis McNeely: In a sandwich lease option, the investor exercises their option with the property owner to purchase the property when the tenant-buyer indicates they're ready to exercise their option and purchases the property.

What's the location, purchase price, expected Reno cost, ARV, etc.?  

Using quality yet affordable materials can transform a space without excessive costs.I could remember working on a property an investor purchased.

Step 1: Get preapproved for an FHA loan for the purchase price you are looking for.Step 2: Connect with builders until you find a few that will finance the construction of your home. 

Purchase price: $415,000 Cash invested: $90,000 MY FIRST RENTAL PROPERTY !!

@Nick Henry this also comes down to how much time you have available and how much effort you are able to put into purchasing a home or building and doing renovations and then finding quality residents to live and take care of your asset.

I have 2 SFH, both purchased using house hacking.

There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.