It's a longer term hold play, so not much income to speak of this soon.

only you can determine what the right investment is for you, but with rent at $1700, you'd likely be cash flow negative each month.

@Gavin Wynn Not trying to be negative just don't want you to get stuck in the rabbit hole like countless others and then take no action.  

They often allude to me speaking with others as if it is expected. #2: If a broker brings me a deal off-market, am I going to link up with a different broker to ask as my buyers agent?

I know some people who are doing AirBnbs to get better cash flow - it's negative cash on long term rentals unless you're doing 50% down or paying all cash but most people are looking at California more for appreciation.

Hey @Jeff Ryan - While I can not speak to your exact situation, I can speak to the thousands of homes I have walked here in Chicago, where majority of the homes were built in the late 1800s/early 1900s.I would say that 7/10 of the older homes I look at have some sort of settlement in the foundation, which causes the cracks and sloped floors you are mentioned you are seeing in your property. 

Unfortunately many lenders will see this as a red flag and may not take the risk to lend you the rest of the money even if you use stated income program or bank statement program but those are for self employed borrowers who have active income from their business but write off to many expenses that when filling their taxes their net income is really low or sometimes negative.

Typically in these situations the property also is less valuable as well which turns the second into negative equity and wiped out in foreclosure

I can't speak to the location or the type of visitor who might be traveling to your area so I'm addressing the property itself only.

Mainly, prospecting - aka speaking with potential buyers and sellers.I would also recommend calling everyone you know (Neighbors, family, friends, co-workers, etc.) to let them know you're in RE... don't say its a side-hustle... don't say you're 'trying it out'... don't say its only a P-T thing...