Also it limits the products that small local community banks were "famous" for being able to make.

That's nowhere near enough to afford the median priced home in Austin.

What is the sales growth rate of that product?

I have been looking at buying buy and hold properties out of state in some more affordable markets.

My background is in customer service and TV/Film production -- a clear path to real estate, don't you think?! 

Obviously like you stated, taxes and VA limits will be different for different states and countieswithin those states so looking at what you can afford to live within your means in case of vacancies is a big factor. 

There is a large demand in affordable housing in Frenship and Cooper School districts.

He started off doing that part time while he was working at a W-2 job until he could afford to quit and take care of his family. 

These two incentives combined can add up to $7000+ in move in costs alone never mind first and last months rent.So....considering that most people who can afford $3,000+ dollar apartments usually have good steady jobs, and are not the types of people who let their dogs crap all over their place, eat the woodwork, or otherwise destroy their home, I’m wondering what benefit I really get from having a deposit on hand.

Find a lumber yard like Fox, you'll get a better end product.