I can help you find rental properties, but $50K is an unreasonable amount for a full cash buy out.
I help lots of investors determine the best property to buy in good neighborhoods, that have a positive cash flow.
It is a good sum of money, however, and can get you started, but I'd suggest a different route. If this is your first investment property, put 20% down, and find a house to buy where the rent will cover the mortgage, insurance, and other fees (repairs, maintenance, etc). A well chosen property can even have several hundred dollars extra at the end of the month, and this positive cash flow is money you can put in your pocket, or save to purchase a second or third investment house.
Plus, since the Austin market is so popular now, homes are increasing in value year over year, so you can probably make a profit if you buy and hold for 5-10 years, and then decide to sell.
There are lots of options. Give me a call and I can tell you more.
Finding a rental property at that price in Austin is going to very difficult. Most of our good rental properties start at around 85,000 and go to about $150,000.
If you would like to look outside of the main parts of town, possibly in Johnson City or Blanco, you might be able to find something at that price.
Please give me a call if you would like to discuss your investment strategy further. I specialize in residential investment homes and it would be happy to help you.