I'm exploring different funding options and would love advice on using other people's money (OPM), leveraging business credit, or possibly borrowing against my 401k to keep more of my liquid cash.

You have to follow the required eviction proceedings  as required by Texas or she will be in the house living rent free for a long time. 

My current 10 year goal is to get to 10k a month in cash flow.

So I’m hoping that after a little while I could refinance again for lower rates and hopefully have more cash flow.

In terms of strategy would this area be better suited for finding cash flow or appreciating properties?

And it should. not. be. free.8.

These areas tend to offer solid cash flow, even for out-of-state investors.Regarding company structure, owning property in an LLC is a popular option here.

I found a good deal that I really like for $160K, which has excellent cash flow potential.

If you are a centimillionaire, legacy holding parks cash that has few other places to sit. 

Purchase price: $75,000 Cash invested: $75,000 This is a duplex with 2 bedroom/1 bathroom on one side, and a 1 bedroom/1 bath on the other.