.- no title seasoning on cash out refinances unlike FHA which has 12 months of title seasoning after purchase before you can use market value value or conventional which requires 6 months after acquisition (this applies to CO refinances where you used financing initially to purchase not DFE or delayed financing exception which is an all cash purchase and there is no lien/deed recorded on the property at the time of close), This becomes very handy for  creative RE entrepreneur once you learn how to force equity through adding value to properties you can use VA's no title seasoning advantage to increase the speed at which you move from deal to deal quicker than Conv/FHA- no self sufficiency rule when owner occupying 3-4 unit properties which FHA has (a rule that makes buying 3-4 unit FHA properties in high cost areas nearly impossible) so this a huge plus- use of rental income or other peoples income (OPI) to help you qualify on your 2-4 unit VA purchase (FHA and Conv does allow this too)There's a lot more you can do to optimize your mortgage planning from an investors perspective.With the introduction of the 2018 Tax Cuts, you can structure your taxes strategically to not only greatly reduce the tax impact but also remain bankable to most money sources.

Your $110K  property is a bad investment based on the rental rate it is returning.It is never a good idea to park cash in a income property, possibly a plan only if you have more than you will ever need and are at the end of your investment life.As a inexperienced investor you may view your property as having a positive cash flow of $500/month but that is likely impossible.

@Jeff MartinYou may have to call a couple extra lenders or have a slightly higher rate but I doubt this would make it impossible for you to invest

No one in this generation is 100% self made cause its impossible.

We are investing with a distance, so it's physically impossible for us to wait for early risers in building material stores.Let me know if you have any ways or recommendation for contractors.

@Dane KaniaAgree with @Chris Ellis with regards to the time horizon of re paying being a primary consideration.However, it's impossible to decide between 2 things without putting numbers down on both sides - and you've put little of the important stuff for the rental....How much do you think the place will rent for?

It always seems impossible before you do something, but the second after you do it, I know you just wanna keep on doing it again and again!

That is an excellent point, title insurance may be impossible to get with an impending foreclosure and potential other problems.

In my case it would have effectively been impossible to assert that the loss property was NOT QBI eligible, and yet the others are?

It's impossible to prepare a tax return by Monday, considering disorganized receipts and a 1031.