For your first deal I would suggest a cosmetic rehab to mitigate your risk.

One thing I will say, and do with it what you will, if you are digging out of a bad financial position I'd suggest RE is not for you now. 

Any suggestions would be appreciated .

I would suggest house hacking and/or creative financing.

A minimum 650 credit score, as some have suggested, won't work for a Class C property.

.: Application/Screen every tenantIMO I wouldn't allow pets since it wasn't leased with petsOtherwise a non refundable pet feeI would charge at minimum 350 upfront per pet or not allow them at allThe Realtor who sold me the property and helps me find tenants, suggested $500 nonrefundable deposit for 2 cats and $25 a month each.  

Depending on the type of commercial you want to get into my suggestion is to go work for a company that does commercial real estate as learning from people who do it and getting paid at the same time is not a bad strategy 

Would you suggest subdividing the property, building a single house, or building multiple cottages/ tiny homes?

If you know of any specific groups or events that might be helpful, I’d love to hear your suggestions.

@Joy Daniels - All good suggestions above!