You have to weigh the benefit of the insurance claim payment versus potentially having your carrier cancel you and perhaps get black-balled by the insurance industry.

@Isaac Hanai make sure you FULLY understand the negatives of S8 programs, not just the mirage of consistent government rent payments.

What would stop him from just not coming back to finish once he gets the last payment from you?

Rentals also build equity through tenant payments and appreciation, with profits taxed at lower long-term capital gains rates when sold.

I do direct booking through the Houfy website, taking credit card payment by Square. 

. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

I’ve had more success filling vacant units by word of mouth/ networking with other agents in my market recently than I have through the typical advertising methods.

They have decent rental markets, and there are options where you could get in with a 20% down payment.

I really don't have the $23k down payment I'd need for a DSCR, and Texas wont let me HELOC the equity out of my other rentals. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.