Awesome, keep on grinding. you on the right path.

Avoid operation of a private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack, gambling establishment, or a store whose principal business is the sale of alcohol for consumption off premises.The 4th requirement is of particular importance with regard to the real estate company in your hypothetical. 

I have done research on homes renting in our area and there are a decent amount, and it even seems I can generate a cash flow of at least $200 a month, so I think there is hope for our plan.This doesn't seem like the typical path that those find themselves in real estate investing so I was hoping I could find some advise on the matter here.

I might have kept it, because it did cashflow well but I was now stationed across the country and it was too much work to manage.

So, I have total respect and gratefulness for active duty and veterans for their service to our country. 

@Adrián AlvarezI definitely need to do some more planning to see which path is best for me.

I have a complex financial picture with RRSPs in Canada, RI in Canada, IRA/401k and other stocks/bonds in the US, vacation rental US,.. while I have confidence in my ability I also recognize that there are limits to my knowledge and speed at which I can learn (e.g. tax implications in two countries, ugh!).

I would recommend before you start to put time or money into any project you should first make sure you are educated in which path you are choosing and make sure that there is a goal / reason for that path.

Phoenix rent growth is actually still increasing, where most of the country is seeing declines.

If you are planning to rent , think twice, most Canadian provinces are very biased toward tenant, you will be surprised how socialist are some rental laws are in country considered to be capitalist.