I have been reading some of the recent articles about using an FHA loan and that seems like it might be a good way for me to get in the game (but smart this time). 

My goal is to build a portfolio of single-family houses in South Austin (see profile for details).BP looks like a wonderful community of smart, knowledgeable investors!

By all means get all you can  get from Jay because  he  is smart and sincere , however your money will be better spent here  for a  fraction  of   1 of Jay course..

Generally speaking encouraging people to try to time the market and steering them towards high risk strategies is bad investing advice in my opinion, and yes I would place OOS investing for high cash flow in the “high risk” category, possibly the equivalent of buying a stock with a 13% dividend yield thinking that’s a smart move because the cash flow is great when in reality the company is likely desperate to raise cash and approaching bankruptcy, just like rust belt properties with high cash flow might seem good to a short-sighted investor, when in reality those properties are cheap because locals have witnessed decades of out migration/ industrial decline and realize those properties are on the cusp of economic and functional obsolescence.

If they are also counting todays appreciation numbers they are investing with rose coloured glasses.

Very smart.

CEIRIA is also a good meeting, but I usually go to myINREIA, which is growing more and more and usually has around 20 or so people there.Sounds like you and your wife were very smart as you got started, I really enjoyed that story.

I agree we are not in a bubble but the market is softening and buyers need to buy smart and calculate for such conditions.

Welcome to BP.I am sure you will find all of the resources necessary to ensure that you will have the direction to make smart real estate investment decisions.I have found the brain power on BP to be awesome and sharing culture to be genuine.My personal story is that I have been a landlord & property "flipper" for more than 30 years.

Thats just not being smart about doing business.