If your wife is comfortable living close to other tenants you can get some low down payment loans and have the tenants cover most if not all of the mortgage. 

Decide how long it will take you to save up your reserves to where you are comfortable. 

While 8" rise is the max, it's not very comfortable.

Get out of your comfort zone.

Rent it and once your comfortable you can move one on the 2 property.

I am still developing a strategy but I would like to rent out a place that me and my family would feel comfortable living in ourselves.For work, I am an AI analyst for the Army Corps of Engineers.

I am still a newbie to this and do have get out my comfort zone to pursue this.  

I think some of the newer construction is sitting well above current market value and could be in jeopardy if the market adjusts or the economy continues to fluctuate with inflation.Depending on where you live and what your comfort level is there are several other states that can offer a better cash flow for a similar price range.  

So for all these reasons, I did not feel comfortable with moving ahead. 

It's helpful to get comfortable running your own numbers and learning to take everyone else's underwriting with a grain of salt.