Freddie Mac offers "small balance" loans that have good terms, but the minimum loan amount is $1 million. 

The Freddie Mac Home Possible is conventional and allows 5% down on 2-4 unit however it does have a first time buyer requirement unlike the FHA. 

I would install a deadbolt as it is an essential security device but nothing more. 

I have never seen any rental property with keyless entry on the back patio door, but my tenant is asking for it.This is what I found out when I searched up TX requirement for rental properties-"Every rental unit in Texas should be equipped with the following security devices at the time that the tenant takes possession of the unit:One window latch on each exterior window in the dwelling;A doorknob lock or keyed deadbolt on each exterior door*;A keyless bolting device (i.e. a keyless deadbolt) on each exterior door**;A door viewer on each exterior door;A sliding door pin lock AND either a handle latch or a security bar on each exterior sliding glass door."

Those are filtering devices that only work in certain markets at certain times.People evaluated rentals and discovered a correlation between purchase price and rent rate to create a "rule" for quickly determining if a property is worth evaluating or whether it should be discarded.

Fannie Mae has different requirements for this type of income than Freddie Mac.  

Thanks, @Scott Mac, I guess what I was comparing to was RE VS an index fund like VTSAX that's gained 12% a year in the past.  

However you will typically have higher down payment requirements, adjustable rate loans, and a higher interest rate.Conventional Financing - This is financing where the loans are sold to Fannie Mae/Freddie Mac.

Fannie Mae and Freddie Mac allowed a 3-month suspension of foreclosure sales, late fees and credit score reporting, and allowed mortgage servicers to work out forbearance plans that could delay payments for up to a year.

This is straight from Freddie Mac:  A short sale occurs when a property is sold at a price lower than the amount the homeowner owes on the mortgage, and the homeowner's mortgage lender(s) agrees to the "short" payoff.