We would be able to work through an analysis for this but it would largely rely on assumptions of property values (CA and MN) and projected market expectations. 

But that is mainly because I have very reliable family and friends back home that I can rely on for anything that comes up.

(I'm sticking to a a rough full-time hours estimate for this post but you CAN hire a part-time worker too, of course, as your work increases and the position becomes full-time)Keep in mind that you're providing someone employment and an income that they'll rely on.

Your biggest "investment" mistake at the time was: paying full market value.When you only rely on future appreciation, it's always going to a long, slow slog.Which is why I agree with @Scott Bowles urgent advice to you: Sell!

(such folks are called syndicators... the highest breed of individuals who are pretty much very smart.. and know if deal makes sense or doesn't... these are the folks that are also connected with other people...... these are the folks who you want to also get in touch with and stay connected.... )  Note however.. that sometimes... relying on other folks to be the ones to give you money... just for you having your boots on the ground.... indeed can be very difficult journey... but believe me there are passionate folks out there who like to analyze deals, but do not have trustworthy individuals with boots on the ground... and looking for some sort of mutual relationship in their journey towards financial freedom..You see... it's all about the value that you provide... to others.. and reasoning as to why they should be associated with you...

Wealth building is a risk game and educated risk is good risk.I have high cash flow and a large HELOC to rely on as a back up. 

The less prepared you are, the more you must rely on other people and hope they give you good advice.

This formula is used most frequently in a commercial property (5+ units) because often times the loan is a non-recourse loan ($1mm+) so the lender has to rely on the property to support itself since the lender can't look at the borrower as a qualifyer.However, if you are talking about SFR or a 1-4 unit property, you can obtain a conventional loan. 

Knowing how to run comps and know your rehab costs....and not relying on the wholesaler numbers is critical here. 

Looking at possibly putting an offer in but from what I can tell( I am relying on pictures, apparently the tenants don't know it is for sale and I can only physically look at the outside??)