I wouldn't say housing market in Austin has crashed ... we just bid on a prop this weekend in central Austin and it went to multiple offers, my friend just bought in N Austin and there were 12 offers on that prop.

I've been searching for and working towards purchasing my first investment property for years and years, every time I found one that fit, other local investors with more experience, more readily available funds or alternative financing, and more connections were already writing offers while I was touring the property.

Happy to send an intro.Roofstock offers a lease up guarantee and a 30 day money back guarantee on all properties. 

We either have the option of using some funding from our HELOC or from a silent partner ( we have about 1/2 of DP in cash).  

Right now DSCR loans are an option along with your 10 loans for fannie freddie.

Northern Virginia can indeed have a high barrier to entry, so exploring out-of-state options is a smart move, especially for first-time investors with a smaller budget. 

You would use step 1 and step 2A from this form to come up with your income:  https://content.enactmi.com/documents/calculators/Form1038.C...3) It was mentioned above to use DSCR for the next property but DSCR loans are ONLY for non-owner occupied so that is not an option for a primary.  

I visited a few properties out there last weekend, and I'm thinking of putting an offer in on one of them but I'm not sure if I should.

I am a USMC veteran so I have some flexibility with finance options and I am looking to utilize all resources I can to build and scale my portfolio.

If I’m able to get an offer accepted at below 150, say 130 or 140, and put 20% down, would I be able to pull my money out of it @ the 80% after the appraisal?