Property aimed to be paid off in 20 years to pay for kids college/marriage/car etc etc etc)Does anyone have any pros/cons of the above?

A good lender or loan officer will see your specific financial profile, tell you what is and isnt possible, and ultimately should give you suggestions on what to aim for and focus on so that you can get what you need to eventually be ready to purchase. 

Having cash flow in this market is kind of difficult to expect, you should aim at best to break even and if you don't have the cash on hand to handle the short-term volatility then don't invest in real estate.

Our plan is to hold long term (10+ years) and likely pay it off in 5-10 years to act as supplemental retirement income which we plan to get to with a couple more properties paid-off in Tulsa eventually.Would you pull the trigger on these two properties based on our goals?

There is also the thing of a physician loan where I wouldn't have to put a down payment on the house and secure a loan although I would want to try to aim for a fixed rate (or maybe variable since interest rates are potentially going to be cut in the future?) 

I’m aiming for a mix of appreciation & positive cash-flow after some value add work is done to the property over the course of first year of ownership.

What expectations are you guys aiming for? 

-I do not plan on becoming a real estate mogul with 100 doors to my name More like 15-20 to supplement my wealth building.

I am currently completing the pre-licensure course for my MLO license, aiming to become a mortgage broker specializing in primarily non-QM/hard money products, along with some conforming loans.

I am aiming to overfund the initial purchase if I can to cover property, repairs, assumed mortgage cost for months of no income (assuming 6 months max), and any variance.