Great way to get rolling and since you are paying cash for everything you don't have to worry about credit - AND - you will sleep well at night because everything is paid for. 

Austin has a terrible public transportation system compared to what you're used to, so be careful not to underestimate the time it takes to navigate this city.

When running a screening report on tenants, I recommend doing a full background check, credit check, and eviction report on any applicant above the age of 18. 

Great way to get rolling in real estate and since you are paying cash for everything you don't have to worry about credit - AND - you will sleep well at night because everything is paid for. 

Advantages for me: slightly less paperwork, fast approvals, leeway if your credit score is borderline for a specific rate, relationships, flexibility to lend on properties that need significant repairs.Main con is slightly higher than average interest rates and shorter terms, for me at least.  5-6% and 20 year amortization is generally what I'm paying.Hope that helps,- Tom

To get the lowest rate which is 7 ish right now, its 60%  ltv and at least a 740 credit score. 

The city made a terrible mistake and mixed up the addresses and said it was zoned for a 4 plex.

Never had any real credit established.

Entered my credit card info and all, submitted it and assumed all's good.

I have about $20,000 liquid that I can tap into from savings, which I would use a portion for the down payment, and my credit score is 710-714 so I'm not opposed to obtaining financing through a local bank or credit union for financing.Also, what additional books, materials, or resources would you recommend that I could read to get myself more familiarized with this form of real estate investing?