From my limited rental knowledge (only have one rental ATM) it seems like 2500-3000 is a tough sell unless its near great schools and jobs.

You are limited with highway options for commuting to Plano but traffic isn't that bad.

Anyways, the plan is to continue to accumulate properties around this range until I have enough equity that I can 1031 exchange into larger properties with more units to supercharge the process (or I have to do this because I hit my mortgage number limit). 

An additional advantage is that you have a higher total purchase price limit on that FHA loan for a 2-4 unit property than you would a single family home.

So the same out of pocket expenses to you....but here the loan is VERY different:Purchase Price = $100k75% ARV = $150kSo the LOWER in this scenario is $100k....that's what you would be limited to in the first 6 months in this scenario.  

@Joseph Hummel agreed, got that sense too but it was tough to gauge since there was limited communication, the appraisal was done couple months ago, hopefully they won't want another one, my original application actually expired and they gave me a better rate, if I need a new rate it's gonna be higher hoping that won't be the case!

Also, if the Note is called in, just refinance...Again, you might want to refi anyway since the limited liability only applies to what is under the LLC's name. 

I find the limitations are usually the user, not the available technology. 

I have put in offers that have fallen apart, etc...but as of now I have limited experience, especially one what I am thinking would be an extensive rehab.Now back to the house and situation itself.

Looks like $3k is the limit