If it is going to need a furnace you need to price one out, they are not too cheap.  

Good news is gas is cheap. 

I had a decent paying job in NJ while living at home on the cheap, and wanted to use my money to invest in real estate.

I'm in need of some cheap cabinets and wood flooring.

I bought into my first commercial property because it was cheap, and had several buildings on it. 

There a lot of 2,1s in Dundalk that go for cheap, so it's tempting to purchase for a flip, but they're not big sellers in the area (and not really in most places).I'm currently investing in the Dundalk area, as well.

It's definitely worth waiting to get your financing until AFTER you've started your new job though, otherwise you could be getting into a deal that you will regret and be trying to re-fi later on.My wife and I made the move from Charlotte last year, and we just decided to hole up somewhere cheap while we got income established etc.. but it can't hurt to try to get financed..

Don't know how it would work in Austin, very different market from the cheap and steady market here. 

Multifamily is my focus and I've been trying for cheap single families (under 250k) as well.

Option A: live with family for free until we have new job(s) locked down, then move into real estate once we have a salary for a traditional mortgageOption B: rent a cheap apartment in GR to get our bearings in the city while looking for jobs, and learning more about the REI/rental marketplace by living thereOption C: explore creative funding options to speed up the purchase of our first investment property, which will help fund the purchase of our own homeOption D: look for a 2-unit to live in, fix, and rent before we purchase a larger home?