You may also want to check the Columbus OH market - great macroeconomics with lots of job and population growth along with major companies developing here that drive strong rental demand. 

Year 1, I intend to keep my W2 job while i work to get my small business going.

If you like your job, and your goal is to create long term wealth through equity then keep the property, fix it up over time, and in the future you will be able to rent it out for profit.

In my day job I’m an ops professional who manages a tech stack and efficiency is important.

It's your job to create a buffer between the tenants before they start fighting as well.

On a more common event list, would be hail, flooding and wind damage (trees esp.). 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

All the posts do a good job of highlighting the importance of a long term view when acquiring property.

It is common area and I assume you excluded it and would be entitled to be a guest of your son.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.