I have 3 associates / relatives that would be doing my renovations, as I would be finding, analyzing, and purchasing the deals. 

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

Purchased at 211k .

Did you purchase this with a conventional loan? 

@Rory DarcyRecommend 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?

So it was 153k for the purchase and 40k for the rehab, I had to come up with the rest. 

However, if you’re open to purchasing an investment property before your primary residence, you could likely qualify for a DSCR loan.

Most of our loans are fully amortized and those that aren't, are 10 year balloons where we'll have more than 50% equity (at the purchase price) upon loan maturity in 2030+. 

There were no bids to purchase it at auction. 

I’m a new investor who purchased my first rental property this past year, and I’m eager to learn and grow my portfolio.