Lease options are the vehicle of choice here, until I sort out how to get to the other side of the ceiling imposed by debt to income ratio.

Property is being sold at a heavy discount.  

I have a good agent I've worked with for years and letting him represent me not only gives me the advantage of additional counsel, it also gives me someone else to do the heavy lifting so I can concentrate on the deals themselves rather than the intricacies of the actual contract, the process of moving everything through closing and all the hiccups that often come with investment properties.

The house needs heavy renovations3. 

Just started with a new employer that pays for housing, vehicle, and fuel.

Instead, you must invest in a purely passive way, such as a syndication.Second, real estate is a tax-favored asset and investing in a tax-favored asset through a tax-deferred vehicle is a bad idea. 

If I can't find what I want second hand then purchase from local furniture store for heavy use items like beds/frames, dressers, dining sets.

Personal background: Married with no kids, 100% debt free, live a rather tame lifestyle and don't spend large amounts of money, two newer vehicles (2020 & 2024) so no vehicle purchases expected for the next 10 years. 

Is it repairs from heavy tenant use? 

Quote from @Zachary Ware: A PadSplit can be very heavy in CF but be careful if you are renovating a house and adding extra rooms.