I've already renovated one of the bathrooms, and I’m planning to paint the interior, update the kitchen cabinets, possibly sand the wood floors, build a fence is a corner lot and increase the rent for the room since my tenant is currently renting the entire 3-bedroom, 2-bathroom house for $800 a month.

Or like your plan use it all as a down payment on a much larger property.  4.

Starting small close to home is a great plan.

To echo the rest of the group, if you're planning on holding the property, a DSCR is likely your best bet, assuming your investment property is in a rental area that supports the debt service. 

Yet investors expect a PMC to do all this extra followup for free because they think the program is "gold".We've always accepted S8 tenants and have no plans to stop.It's a decent program if the investor understands the limitations and challenges.Otherwise, it's "fool's gold".

What do you plan to do with your license?

Please come down and see me and let talk about real estate.My plan now is looking for buy and hold and flips.If your 100% motivated for REI just like i am, come down and meet me.

Quote from @John Williams: I recently bought a home that has an attached dwelling unit where Im planning to move in and rent out the main unit.

With margin trading of 20-25% of initial investment, when stocks market collapses with dollar cost averaging as a strategy  , leverage of the initial investment in stocks, the AAR can be more.comparable to most syndication (compared to 20% down payment in real estate).I have been following BP forums for the last 4-5 months and have spent almost 4-500 hours.

You haven't provided us with any information that would help us help you.My recommendation: do not sell a property unless you have a plan to invest it in another property that will perform better, or if selling will move you closer to your goals.If you don't have a firm plan, hold onto it until you do.