We were informed by the owner that the 2 stones at the South East end of the house are the septic tank and that the line then runs behind the house to the drain field on the other end, we were also told that the well was below the brick at the front of the house.

Hey @Ashley Rodgers, all the suggestions so far I agree with.I would also suggest taking a look at places in the south east/ south west.

Now I have a close family member who's willing to rent out our (2019) home for 1,800 a month which would put us down -$15 with the fear of my mortgage payment going up because my home is in a neighborhood that quickly growing and is host of the newest homes by miles in this town and would have to raise the rent by a good bit on that family member again or sell the home on them while only getting a rental home for a year...The plus side to renting out this home is that by next year it is "EXPECTED" to grow by alot again as the value less than 2 years ago was 198,500 to the 232,500 now.

Then you build a compfire, roast up some javelinas and invite all 3 people within 10 miles of you to welcome you to the neighborhood.  

I've bought in markets and at times where REOs were the best deal in town (based on high volume purchasing); and I've bought in markets and at times where there wasn't a single good REO deal within 250 miles. 

I have yet to find A quality public schools in the south east.

I am not sure which one would be the best investment so I am asking people with more experience.Both projects are in the same city and area, in south east Asia.

North of 9 mile just south of the zoo. 3/2 1000sf basement and garage. $60k

Property #1:  3/1 - 1000 sf ranch$110,000             Sales Comps last 60 days within 1 mile$  50,000             Cost all in (Purchase/rehab/closing/etc...$950/m                Rent$208/m                T/I$  95/m                PM$297/m                DS on 55% ARV REFI in 6 months$351/m                Cash Flow (after year 1)$512/m                Avg CF year 1 (6 months no debt/6 months with REFI debt)$  6,141               Cash Flow 1st Year$11,500               Cash Out REFI$49,000               Recover of Original Cash In at REFI$66,651               TOTAL Cash Return 1st YearProperty #2: 3/1 - 1036 sf ranch$  72,000             Sales Comps last 60 days within 1 mile$  47,000             Cost all in (Purchase/rehab/closing/etc... $950/m                Rent$219/m                T/I$ 95/m                 PM$265/m                DS on 75% ARV REFI in 6 months$371/m                Cash Flow (after year 1)$515/m                Avg CF year 1 (6 months no debt/6 months with REFI debt) $  6,557               Cash Flow 1st Year$  2,500               Cash Out REFI$47,000               Recover of Original Cash In at REFI$56,057               TOTAL Cash Return 1st Year

But I wouldn't live .25 miles in either direction of my neighborhood.