You may or may not wish to fix it since its likely too late to charge the last tenant's security deposit for it and also that it sounds so minor that people didn't even notice it right away.

To me, it sounds like you'd be better off buying something closer to town that's more suitable for a rental. 

$150k is more than enough to get you started, but the issue is that right now it sounds as if it's "trapped" in another property as equity.

Hi Nicholas, It sounds like you’re in a great position to scale your portfolio!

and it sounds like Lake Charles has a meetup as well which is very cool.

ThanksThat sounds insane to me too.

It will only cash flow about $150/door/month, but I tell you this to point out that cash-on-cash returns are nice to analyze, but I am getting to the point that something that cant be an infinite cash-on-cash return at some point in the near future just doesnt sound that appealing.  

It sounds like you’re being quoted on commercial loans. 

It sounds like you have a solid plan with house hacking and using an FHA loan!

Definitely would consider both, but the cash flow does sound quite tempting :)