For ballpark numbers, we bought the home for $850k ($715k left on the mortgage), and once the renovation is complete we'd be looking to sell for about $1.5M.  

My mortgage pre-approval is $350k.

You can get cheaper properties closer to the center of Atlanta, but they'll require a more extensive rehab. 

Use less of that and either get the seller to buy down your interest rate or you can do it and have a comfortable mortgage payment and still plenty left for your emergency fund.

Outside of real estate, I enjoy my kids, travel, exercise, wellness and I am also a former Financial Planner turned Mortgage Lender. 

First get a job.Save enough for 3.5% down for FHA mortgage and buy a 2-4 family property.You can live in one unit and rent out the rest.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

One approach could be looking into house hacking, where you buy a property, live in one unit, and rent out the others to cover your mortgage.

It is handled more like a traditional mortgage at closing through title.

Quote from @Amir Rahmani: Either laminate or vinyl flooring would be a good choice. since it's cheaper I’m not a fan of carpet at all, especially for rental properties.Thank you for your comments, Amir!