Thanks to everyone that responded your contributions are greatly appreciated. 

Evaluating your options, considering different scenarios, and staying informed about market conditions will contribute to making sound investment decisions.

In this case, since one house is a 3/2 and the other is a 2/1, you can calculate the price based on the proportion of the total bedrooms and bathrooms each house contributes to the total.

Once that $5k/yr contribution turns out to not be enough, then look at the IUL.

FINANCIAL CONTRIBUTIONS:1.1 Party 1 Responsibilities:Party 1 shall contribute to the partnership for the down payment, closing costs, and construction costs for renovations and additions.1.2 Party 2 Responsibilities:Party 2 shall independently pay the mortgage until both properties are rented, oversee construction and renovation, manage both rentals, and handle bookkeeping during construction.2.

If you are in these markets, please contribute in this thread.Thank you!

They may contribute other ideas.

If I were to invest in the stock market, I'd contribute about $200k annually.

Many of these properties I saw had been on the market for several days, so seller contribution should cover the closing costs. 

I'm on a continuous journey to expand my knowledge in this field and am keen on leveraging my background in finance and real estate investment to contribute to mutual growth.