Or an emergency.

We mostly intended it to be a capex emergency fund in case we have something big and unexpected come up.

In Texas providing hot water of at least 120 degrees is required by the property code, and any failure of the system would be considered a health and welfare issue and an emergency.

If it is not an FHA, you will likely need 20%, closing costs + emergency fund.Is it worth investing outside of your state?

I have the capital for a down payment (without touching my emergency savings), but I don't know enough about investing to buy a rental property on my own.

Our banks require we put up a sign of who is handling the property, for emergencies, etc.

Why not save for a little while longer to give yourself a personal emergency fund (6 months worth of personal expenses is a good place to start) and then pull the trigger on the next property?

You have a constant crop of emergencies come up that eats away all savings.5.

Emergencies occur and you need to be able to pay for them, closing costs almost always have to be paid out of pocket, you can always use someone else's money but it can be hard to find someone who wants to give money to someone with no experience.I would recommend saving some money prior to purchasing a property.

Besides the information Zillow provides (emerging credit score in the mid 640s), I'd like to issue a background check and credit inquiry - question is, can someone please recommend some of the good platform to run a credit and background check?