The latter entails potentially switching your circles, maybe joining a country club and/or rotary clubs.

Does anyone have experience/an idea of what that entails?

I think some people do not understand fully what REI entails and how much hard work it really is.

I don't have a problem dividing the space, which will entail extending the plumbing and adding a new electrical service for the second space, but I don't have the liquidity to pay a TI allowance.

That could entail federal pound sand prison time.

I would rent out the current home we are in and in addition I do have one SFH which I currently pay a property management company to fully take care of for me a few hours away, so I have an idea of what that will entail.50k is me ballparking what my down payment @ 3.5% (28,525) plus closing costs on the loan. 

If they owe a large number like that, I would contact the prior tenants directly for payment, and then go through the courts (which could then entail contacting their military branch for garnishment of wages).

I did some number crunching on this, and the cash flow I could potentially get didn't seem worth the risks and the life changes it would entail (moving my family to a completely different market).

If you would be going into business flipping homes, it might not be sustainable to pay "full price" or "retail" depending on what that entails and if you are flipping a lot of homes. 

This also entails a lot of project management, design, and more.