Some deep rooted issues there sir.

And at that point you now have $7k in the checking account.But if you have the 1920's house with deferred maintenance and month 1 you have to spend $3k to replace the furnace and $5k the second month because tree roots are in the sewer lines you would be sunk.

you know what you have now and it's good - so hold onto it....i.e. don't fix it if it ain't broken.however, at the root of any investment plan is the old adage - buy low sell high.it looks like you've done this and have a lot of money to play with...what about refinancing the current and using that money to make a similiar investment?

That's enough for a $275-350k small MFR.Really hard to get specific without knowing where you plan to move and whether you plan to root there. 

Born and raised around the city, I have deep roots here and hopefully I can start my real estate business here.I'm currently an engineer at a very large corporation.

You have to be certain of the area you are investing in before you start planting down any roots.

If it was me, as long as it passed, I would let it stay that way, minor inspections here and there but that shouldn't take a day before i close anything out -- this means soap test on gas lines and junction boxes.

I’ll be rooting for you from Louisiana! 

I'm rooting for you!

Unless you’re in an extremely rural area Zillow should be able to help you find some comps, and if quit claim deeds are a really significant number of transactions in your area I would also have questions and concerns about root cause.i know this may not answer your question, but I would just try some new tools for your comps, even the BP tools should help.