Getting a job/income and building credit is definitely the priority but as for the 40k to invest in, here's roughly what I have in mind, please correct me/suggest if it is workable - *Disclaimer :)  I do have source of income for all expenses, just not verifiable for loan application, so the $40k I mentioned is budgeted solely for RE investment, no worries about daily expenses. 

(I assume a 203K is out because it's an investment, not owner-occupied, property, but I don't have a lot of experience with that program TBH.)If you're able to line up financing from family and friends at favorable rates, then that's more of a private money route which could make it more workable.

However, it's $1mil and would need a good $200-$300k work to make it workable and cash-flowing on the STR side.   

@Rocco Swinney luckily this is all workable.

Keep in mind that any plumber who will give you an estimate for re-lining the pipe will attach several disclaimers to the quote, including "if we find that the technology is not workable for the particular situation while we attempt the repair, we reserve the right to switch to full replacement".  

B class is a lot more workable in terms of cash flow and renter pool.

You can tweak owner-finance in so many ways that you are sure to make a deal workable IF they are open to it.

@Grey StoneMaking a good income from a job is never Guranteed forever so I want to have passive income over take my workable Income .

I'm tempted to list a few of them, however I didn't want to cause undue worry because most situations are pretty normal and the city is usually pretty workable. 

If hard money it's not workable at a: tax auction, county auction, auction.com etc...