My minimum credit score I will accept is 620.

Don't accept the first tenant who seems nice without doing a full check via RentSpree or whatever.2.

Seeing it as a great potential future home, I decided to make an offer.The offer was accepted, and I purchased the house with the intention of staying at my parents' place while renting out the home until I'm ready to buy a duplex, moving closer to my goal.

Given that you intend to furnish the property, you could submit your purchase as a DSCR loan using short term rental income to qualify. there are a few lenders out there which will accept STR income even if there is no history of such.

Why on earth do they think it is acceptable to bill you and your neighbour when neither unit caused the problem? 

The quote comes in at $4,850 to get the property back into acceptable condition without all of the trim and door repairs/replacement.Do you pay the ~$5,000 and renew the lease for tenants that pay on time or start fresh (with repairs and finding a new tenant)?

im here in mexico and have to literally pay more to party and vacay than in miami almost with dirt roads and manual shift tiny cars renting $60-80/day, the quad rental is $50/day.. obv this is high season, but i thought due to covid everything will be basically free. well, it isnt. but overall there is huge developments, i just dont know if the real investors already moved in 5-10yrs ago here and are cashing out and now its just mainstream folks coming to the new developments. happy to hear ideas, i was considering maybe a 50-150k condo w pool or just empty land 30-40k?

The last lot we purchased was a good example of this - The guy bought it at a tax auction thinking that he would eventually build on it. 5 years went by and he still hadn't done anything with it, so when I texted him an offer that was good for us and netted him a decent profit he was happy to accept. 

So, you identify an asset and do your homework, make an offer with your pre approval letter from the lender, it gets accepted. 

If you are in Essex Co, that 460k will go for way higher, depending on the town.Step back, why do you want your first investment to be the biggest risk any investor can take by accepting the property and all of it's faults without having the right to make repair requests?