New Investor - Planning for long term and first purchase

[Dalton Q Sizer]

Hello, I've been meaning to check out this forum for several months now. Wish I had sooner. Quick back story on myself. I work for a general contractor with some experience building homes and now I build hospitals. I have 2 dogs, the second dog was purchased with plans to breed once we get a female. Because I work for a GC, I relocate every year or two, three if I am on very large project. I currently have 6 months to 1 more year on my current project and I wont have a better idea how long left until about 1-2 months before and wont know my next destination until about 2 weeks before its time to move. My wife will be going to Commercial flight school with goals to be an internationals cargo pilot but at the least an international passenger pilot and once working her entire salary will be poured into investing along with about 30% of my own income which is what I am using now build up a down payment while also paying down credit card debt and trying to sell truck. DTI currently 37.5% including Rent(23% without rent), Truck, Motorcycle (plan to get rid of both and buy 2 older vehicles) and Existing Student Loan and Monthly minimum on 2 credit cards.

I've been developing a plan A, B and C in accordance with what form of funding I can get when the time comes. My issue right now is I am correctly trying to get rid of a truck payment but about to send my wife to commercial flight school which is a recent development and for about 3 months I was getting myself set up to get a mortgage to buy my first property in the Edinburg/McAllen - Harligen, TX area. I struggle with narrowing down, as someone who works as a construction manager, my initial desire is to build or renovate. 

-My concern with renovating is that this is undoubtedly an inflated sellers market across the board, so bad it is not just real estate. 

- My concern with building new, is not being able to spend all day onsite to manage. only being able to go on site at the end of the day after work to see what was completed and to what quality. 

Both of those concerns push me to multifamily or single homes but then we are getting into sizable mortgages I hadn't initially considered due to the size of the down payment. Even 5% of 250-300k is a lot of cash up front plus closing costs. However, multifamily would be ideal for starter because I have 2 dogs and soon to be 3 so I can breed them for another side investment and need a yard. 

Then my concern for properties I read and hear about seem almost fictional. The way I have learn to determine what rent should be charged for your home is 1 of 2 ways.

- 10% minimum of purchase price annually + property taxes (treated as a cap rate on a business)

- 15 year monthly mortgage rate + property taxes 

Any opinions where I should start, or how I can determine what would be good for myself and my wife to start in would be greatly appreciated.