Sit down with you Realtor and pose this info and questions. 

Acquired 3 lots on mulberry st near west end of Cincinnati about 3 years ago still sitting on it.

If you do your idea on one property, you'll be sitting and waiting a long time to pay off that mortgage before you then use that money to buy another property.

But that is an other story in itself.Reminds me this concept: 2 dogs fighting over a bone while the 3rd just walks away with it.Then, traffic in my case doesn't matter.

I have sold a couple of businesses as well, and speaking from experience, you are never more vulnerable to make a mistake than when you are sitting on a giant pile of cash.Also, I agree with @Corey Conklin - I'm a big fan of "overflow cities/towns" in the sun belt.

The funds that we have are sitting outside of our retirement accounts

This home was located in a zip code that is notorious for its ultra-modern design (though those homes are still sitting for sale).

Also would it be permitted to make that addition raised foundation rather than a continuation of the slab the garage sits on, see attached.

Since it’s a new build, I was able to negotiate some great perks, like a 5.875% interest rate, no closing costs, a fridge, blinds, and even a backyard firepit.Pros:Good school districtLow interest rateMinimal CapEx and repairs (because it’s a new build)Low insuranceHigh-quality tenants (due to the school district and being a new build)Cons:Lots of new builds in the area, which could drive down prices and increase vacanciesThe Numbers:Price: $290KInterest Rate: 5.875%Down Payment: 25%Monthly Mortgage + Insurance + Taxes + HOA: $1,480 (I got really low insurance since it’s a new build and Alabama’s property taxes are low)Property Management: 10%Rent: $1,800 (this is under market because I wanted to rent it quickly—most units in the area were sitting vacant for 100+ days.

Sit down and hash out every detail and put it in writing.