Incredible times we are living in. 

I typically pay ~$1K for hot water heater but one was down and tenants had no hot water so I am paying $1.3K today because tenants need hot water and I could not easily find an alternative (slight high priority so it costs extra).Good luck

The market isn't hot for non-owner occ right now. 

But I expect that to change and be more defined.To give you an idea, one of the officials said mowing a lawn is essential to health and safety, but an elective landscaping project, is notSo I would GUESS< feta ING a non functioning furnace or hot water heater, or a roof with holes might be essential, remodeling your bathroom, or a house no one lives in may not be. 

I'm open to buying/investing elsewhere (and continuing to rent in Brooklyn) but am incredibly nervous about being far away from my property and wouldn't even know where to begin. 

Depending on what you're doing with the money, the Spectrum is at an incredible rate right now (although your $0 initial draw comment makes me to think this option isn't what you're looking for). 

Personally I’m hoping to strike in Austin while the iron is still somewhat hot and have property in both of the areas by the time I’m in Dallas 3-4 years down the line.

Here is the link to the DRE's website in order to add context:http://search.dre.ca.gov/MultiLenderThresholdBrokers.aspJust because they are listed here, does not mean they have not put their investors in hot water and are still lending.  

House hacking is an incredible way to get into buy and hold real estate investing with a relatively low financial barrier to entry… plus the added benefit of reducing housing costs!

My capex budget includes roof 25 year life span, floors 10 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span, bath and kitchen remodel 20 year life span.