He is hoping to get $200k but current value of the home is more like $160-$170.

if the note is currently in default and we can buy at at least a small discount, we may be able to restructure the note with no monthly payments - we would get paid all interest at closing when the property sells.  

A lot of education and a little bit of practice is something that one can accomplish with elbow grease. 

I am currently a sales manager for a commercial tree farm and have recently been consuming Kiyosaki's books like they are candy.

However, my debt to income ratio with that home loan, and student loan doesn't look that great currently and I don’t have much for a down payment.

The best market is likely a "Good" cash flow market that you have some ties to, in some way shape or form, or one that is a reasonable drive from where you live, if practical/possible. 

I am currently living out of state so I have hired a property management company to handle this task, however, my home is still sitting vacant with very few prospective tenants.

Currently renting both apartments for a average monthly cash flow of $1000 Lessons learned?

Nice to meet you (electronically).Currently renting a single-family home in a very expensive coastal Southern California city.

Question: your current model worked well.