I've been managing 70+ midterm rentals for over 3 years and we have never housed a traveling nurse - in our area, their stipends (or what they are willing to pay) are much lower than we can get in rents with other prospective guests/tenants.Utilities are included at all of our properties and that is common practice here. 

We could make a decent down payment with the 40k, but due to us having little money left over at the end of the month, I'm worried about buying another deal with minimal cash left over after the down payment and not having two mortgages.

Over the years with rental increase, today these both rent out for $1,350 each for a total of $2,700.

My wife is currently SUPER pregnant, I have a scheduled open house for this Sunday but worried about leaving my wife alone as the house is over an hour away.

Mark, since you're an inexperienced investor, I would be very cautious about borrowing against the roof over your head.

CO Tenant Screening Laws have changed a lot over the last couple years.

I’ve done over 450 off-market deals since 2017, and I’m here to show you why these types of deals are the key to your success too.In this post, I’ll explain what off-market properties are, why they’re more profitable, and how you can start finding these deals to grow your real estate portfolio.

To be considered an investor (and possibly get long-term capital gains rates), you’d need to hold the property for over a year as a rental or investment, not actively flip it.Check out the IRS guide on rental real estate and capital gains for more details: IRS Rental Property Tax Guide.You might want to talk to a CPA who specializes in real estate to see if there are any strategies that work for your situation.Good luck on your flip!

What is your real concern? 

It may be worth letting them know about the prequalification requirements (credit score over xxx, salary above xx,ooo/year, etc.) in advance to weed people out.