Obviously, I am not sure if this is worth it or not in this particular case. 

Obviously this isn't a great market down here and I am interested in meeting up to see what other people are thinking. 

Only thing we'll need to change is rehab costs I'm sure, as we've only seen one unit so far and I'm sure we'll need more than $10k total, but we plan to upgrade the units slowly as tenants move out. 

Obviously you will spend a lot more time managing the project and coordinating each contractor, materials, deliveries, etc.

@DeVille Greene It's totally fine to buy a residential multi (2-4 units) as your first property, especially since you plan to house-hack.

The down payment amount is about $12k total.

I've done 4 startups and that was totally fun - two went public, one went bankrupt, one got acquired. 

Total insanity.

We haven't done much direct mailing recently in San Antonio but in the past we did and one thing the I always remember from the phone calls that is totally different from the Houston market is that in SA a lot of people told us either: "I would sell my house if I had somewhere to go" and we also got a lot of "I'm going to die here in my house and none of my neighbors will sell 'cause they feel the same way.

That makes total sense.