Texas you want to really run your numbers .. tax's there are very high and impact cash flow if your not careful along with what is usually a foundation repair or two or three during the course of owning the property. many times wiping out 1 to 3 years of cash flow per event. 

Foundation issues are common in this neighborhood which take 5-10K to fix. 

@Justin Marshall Try getting your foundation setup first before going after deals.

BUT I would suggest if you have concrete foundation to take it down to that prep and stain as that would make a great long lasting floor you should never have to do over. 

double check property tax's then check them again.. and also be cognizant of foundation issues. 

I have been making my way through the UBG and various podcasts episodes to start building my foundation of knowledge.

We are 95% finished fully rehabbing (foundation, roof, plumbing, electrical, etc) an investment SFR bought with cash and intend to cash out refinance after the 6 months required (so we don't have to do delayed financing). 

The income caps for the Mass Housing loan can be found at this link: Mass Housing Limits by CountyThe rest of the process would be similar to an FHA loan, though I believe that the Mass Housing loan would require you to take a first time home-buyers course?  

However inventory is low with many decent properties being out of my price range (~$350k +/-) or in need of serious repair (foundation issues, etc.)I'm thinking about getting into a flip/BRRRR strategy since there seems to be no shortage of single family homes in need of updating/repair in my area (Monmouth County, NJ). 

If you are planning to develop your own team of contractors, agents, attorneys, lenders, and property managers I always say it is better to buy a few more using the turnkey system and establish a solid foundation for your portfolio and build relationships as you build the portfolio, them when it feels right take on a deal solo!