Depending on comfort and cash, it might be a viable option as you can build equity and then sell without having capital gains, assuming it's your primary residence and you've lived there for 2 years.

I have also have saved almost $50K so far to take a start in this game and also my personal credit score is above 750.I'd like someone to guide me purchasing my first property and want to kickstart with a small property first.

All in all it depends on the mindset of the investor and dozens of other things smart people consider.

This information can be overwhelming, but I recommend looking for the following items:Credit Score: Depending on your criteria, you may establish a minimum credit score for your tenants.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

NOT a Quitclaim Deed, as you may often see online, because Quitclaim Deeds do not fully warrant the rights and covenants of property as does a Grant and/or Warranty (or equivalent depending on state) does.

We see DSCRs coming in at or under conventional, but it does depend on LTV etc etc. 

I was probably a family member, who doesn't need a good credit score.

It depends on what stake you offer in the property. 

Just be sure it’s documented and consistently applied to avoid any Fair Housing pitfalls.Another option is to stick with strictly quantifiable criteria—credit score, income ratio, etc.