Is this for a primary purchase or build to rent/sell?

Purchase price: $185,000 Cash invested: $35,000 Sale price: $671,000This was our 3rd home.

Any advice or recommendations on where to purchase a long term property for rent are appreciated!

For an investment property (purchased as an owner occupant), that is insane. 

@Preet Oberoi Purchasing a short-term rental (STR) or tiny home to offset W-2 income with depreciation can be effective if structured correctly.

I frequently hear that someone purchased a new property because their real estate agent told them they could get X amount for rent, when in fact, the market comps don't support that amount.

., allowing investors to purchase properties at a fraction of the cost compared to cities like New York, Los Angeles, or Chicago.

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

We've never used percentage-based criteria, like the 70% Rule, for purchases.

I currrntly own a home and am renting it out, I am working on purchasing a duplex.