What to buy and how to buy it

[Hunter Jones]

Good morning BP fam! I am not "new" to real-estate, but my only knowledge is from when my wife used to sell it as a realtor, not investing.

I have purchased a condo with cash, and will close on another property in 2 weeks, financing. The cash property was 75K and I feel like it would have been a better idea to finance it....and keep some cash on hand for another deal...however, I have good credit and a good paying job, but that will only allow me so many mortgages at a certain price point, or any price point for that matter, ex. the house that closes in 2 weeks ($129,000) I had to put down 25%, pay closing and pay some kind of fee (2.?%) for it being a second mortgage/investment property. Bringing $40k to closing..$871 mortgage and insurance, $1150 rent, tenant deals with all maintenance issues, she is a 16 year tenant. 

I feel like my best price point is 40-70K, financed if possible....more people available to rent @ 600-700 than 1150

I know there are pros and cons at a any price point.....but cash flowing +400/mo is always better than +150/200, in my eyes anyway. 

I REALLY suck at wording...so take it easy on me.