I plan on starting out next year with a small plug and play solution to have minimum risk.

As you're just starting out in Austin, focus on learning the local market, particularly areas with good rental demand and lower entry prices.

Scott as a starting reference.

You have to front the deposit, which the contractor uses to get stuff done and that allows the drawing process to start from the escrow of rehab funds. 

There's no real wrong answer to your question, but the right answer starts with you figuring out what general direction you want to aim in. 

For connecting with local resources like mortgage brokers, investors, and agents, the Austin Real Estate Investors Association (REIA) is a great starting point.

Looking for feedback from folks who have been in similar situations and have lessons learned or advice, as I am just getting started and this is literally my first post.Wife and I moved out of our first townhouse and rented it out to grow our family 3 years ago.

My initial investment there started off a bit rocky.

As someone looking to start their investment career in Philly, this was super helpful. 

Happy you joined the party.. how soon do you plan to start crunching numbers on a potential deal?