@Alec Jacobs you have a good process as far as making them fill out a application before touring the property.

It's going to be tough to buy a property without steady W2 income.  8k is a good start, but you might need to keep saving.  

My elderly grandfather owned a two-family home in the area, but over the years, the property had fallen into neglect.

After a year or so they then sell the property and do a 1031 exchange. 

@Eric Greenberg yes, I own a property at 9th and Diamond.

I dont see how the risk would be reduced on second mortgage unless you are planning to hold the property in some type of llc.

I listed 2 properties for sale from my portfolio.

Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I would like to hear your opinion on purchasing a property in another country, like Paraguay.  

It's a mess with commercial properties.