There aren't many lake front properties in that area for sale, but there are a number that are in the 800k range.

G'Day Alejandro,As a few have already mentioned, take a peak at Toledo also.In my opinion lower potential for long term appreciation but solid/"boring" cashflow.I prefer my portfolio to be "boring" but cashflowing lolLow entry points (Sub $100,000), high rents (Above the 1% rule).Blue collar working class decent folks that will stay and pay.Depending on the area but no derelict homes, yards well kept, cars with wheels and all tenants are employed.Plus, all are sophisticated enough to pay rent online so property management doesn't have to collect rents with bullet proof vests and shot guns lolI'm bias toward Toledo but it's worth considering.Wishing you much success

The reverse mortgage company wants buyout and I dont have over 200k to pay out.

But this was an awesome opportunity for me because this is my first living situation where I will be on my own (and getting used to paying a rent/mortgage) but this will put my overall mortgage on a 400k house at roughly $2000 a month for the first year!

Now, you need to figure out how to find deals and pay for them.

Hope is a bad strategy.The only on market strategy that I think can work is paying cash/line of credit/hard money for a property that does not qualify for conventional financing.

To pay for this, I used a heloc on my current home.

As Sean above alluded to- never pay a seller for your future hard work, risk and stress. 

I was wondering if it is worth paying for BP pro membership for the special discount with Home Depot (e.g. flooring, appliances, etc). 

Yes, we will have a loss for 2024.Then it should be easy enough to have your attorney just change it and pay any required taxes/fees.