I have been looking in other places, but being unfamiliar with them, unable to go see them quickly, makes it a little tough as I'm a hands on type of person.

Its a great place for cash flow and depending on your investment strategy there is a very wide range of types of investments.I have been working on the investment side of real estate for several years now and know the city very well when it comes to buy and holds.I own a few myself and have and have wholesaled and worked with a ton of buy and hold investors.You need to be careful of what you are really buy in SA though as what you are experiencing in Austin is happening here as well but mainly on in low-end properties.

Expect to pay a pretty high rate (7% or so), maybe a max of 70%, and it likely be an adjustable rate for that type of a product.  

@Cenddie Alaban there is a lot to your post so I will try to tackle it in pieces.For the most popular loan types (FHA/Conventional/VA/USDA) these loans are actually regulated by the federal government.  

make sure the termite company checks which types of termites you have.  

There are many military and other families here that can use this type of home. 

They enjoy doing that type of stuff.If someone is an investor then look at an investment company that has a license with low fees.   

HOWEVER....not every bank offers this type of a loan (I know, it sounds strange that a bank may not offer a cash out loan on an investment property but it is true).  

Again, the type of properties can make a difference here. 2.

I would suggest that you define your investing criteria and determine what type of investor you want to be.