Next, you need to start tracking your expenses.

If I have some cash do you recommend clearing the loan or invest instead for next property with proper planning ? 

@Shayan Sameer If you can service all debt and property expenses and have money left over then I'd say it's worth it.

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

If you join a brokerage with low or no monthly fees, your annual expenses could be as low as a few thousand dollars.

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

My plan is to live in one of the units while renting out the others.

If you can find a fixer at a good price, with room for an ADU, and the comps are good, then you have a deal.Are you planning on flipping or long-term holds?

Rising maintenance costs, turnover, Taxes, and other expenses will also contribute to this.  

Quote from @Colton Bridges: I recently bought a duplex that I plan to convert to a fourplex.