However with stable tenants bringing in $21,600/yr and only about $6,000/yr in expenses, your NOI is about $15k (rounding down), which should be enough to pay your mortgage with a little leftover.

I don't have a lot of cash laying around and typically have very little left over at the end of each month but am determined to start collecting rental property.  

That would be enough to purchase the property and fix it up with enough cash left over for unforeseen repairs.

30 yearsannual taxes - SAMEannual insurance - SAMEMonthly $1967.87 - this is really too big of a bill to cover, but not if I could supplement some funds from a renter of my current home.Current home costs me $480/month and that includes taxes and insurance - with increase to a 6%tax rate lets say it now costs me $600/monthI can get a reasonable $1700/month in rent for my current home.minus $600 for mortgage on current home = 1,100/month, leftover/cashflow/whatever you want to call it.New homes mortgage of 1967.87 - 1,100 (from current home rental savings) = 867.87/month out of our pocket. - this is a number that we would really love to work with each month.Scenario 1 minus Scenario 2 = a savings of 746.33/month (8,955.96/year)Now with this scenario, obviously we have the mortgage of new home offset by the rent of current home, but we don't have the money up front to do any renovations right away either.

Since I can't be there to closely inspect things (such as leftover pet odors, bite marks in furniture) I'd love to stay away from it but on the other hand I don't want to lose too many renters. 

@Varinder KumarIf the cash flow from both properties covers all three mortgages (including the HELOC), and there's positive cashflow left over than you should be good.

In MD you must wait 6 months before starting foreclosure and the foreclosure itself takes 6 months to 1 1/2 years.I started by going though the leftover lien list in Baltimore city.

Sure everyone says they 'want' more money, but the wealthy actively find ways to make or save more money, while the middle class is perfectly content going to work 9-5 so long as they have enough cash left over to have a little fun on the weekend. 

If you can get a 4plex for 50-70, you should be able to get one for 100 that will have less issues down the road, and is in the best location... and you'll still have money left over.

That's correct, going for 100%, and it will cashflow with around a 1.27 DCR on the second mortgage with what's left over from the first.