Definitely possible. As others alluded to, it all depends on what you're looking to get out of that $40K. Is that price range your only criteria or do you have other needs in mind? I would be happy to share a list of what $40K will buy you in these areas. Please contact me for additional details. You could also search under my website below.
Yes you can, question is what type of property are you looking for? Current properties at this price range require extensive repairs it all depends on the location and amount of work you're willing to put into the property.