But I don't have more to offer other than nice working in expanding your business!

It would be nice to have some equity to capitalize on, but if the house is in the right neighborhood and the repairs are truly cosmetic, it could be a contender. 

I agree with Brian, if you want to be a good landlord and not just a slumlord ask yourself what is the number that gets yourself off the couch to get the property repaired and to keep it up nice so you get good renters and lower vacancy.

It would be nice to hear from some people who have some experience with one or both of these loans before deciding which loan to use.

But at the same time, there should be people who have a nice stable job, but low credit. 

Because it would be nice to access earnings before 60 if I want to, especially since I have control over my salary now can keep my payroll taxes from being unnecessarily high.

I am planning on buying a house but the rent income from my condo would be nice

Still, with a diverse employment base and three colleges inside the city limits, there's a lot to like about the tenant pool depending on your price range and overall strategy. 

But yes Houston is closer to 60k plus for a nice property.

I'd much rather buy a nice B house with leverage than a $60k junker because that's all the money I have.