Purchase price: $2,500 Cash invested: $5,000 Single family House (2 stories), 3 bedrooms, 1 bath. 1100 sq ft. on Corner LotSingle car garage with 16' x 24' lean too.

There are almost no exceptions to this, so it's not even worth considering.

Quote from @Anshuman Thakur: Can someone please shed some light on how- convert 401k to SD IRA- how to use SDIRA to buy properties- how much down payment is typically required if we are using SDiRA to only fund downpayment on a multifamily CRE, and which banks typically work with SDIRAs- how does LLC structure- property management and cash flow work in this situation?

Low barrier to entry, low taxes, landlord friendly, and areas that appreciate + cash flow. 

While having high standards is important, it's worth considering that many Section 8 tenants might not meet requirements like a 640 credit score or $90,000 in household income.

I was wondering if it is worth paying for BP pro membership for the special discount with Home Depot (e.g. flooring, appliances, etc). 

You likely only made a down payment of 3-20% ....but you still get to write it off on the full value across 27.5 years.So 400k/27.5 = 14,000 ish a year of a write off where during the year you didn't need to incur an actual expense, no cash outflow. 

Start there to see if it is even worth your while.

Sellers Get More MoneyWith wholesaling, sellers often need to take a low cash offer.

I can leverage my WLI cash value to purchase it outside the banking system.