@Brett Snodgrass so happy to hear u mention craigslist as a potential lead source as I been on there plenty lately trying to weed out the good from the bad.

Late January, we get it rented out again.Between the process of eviction and the slowdown due to the holidays, it seems entirely possible that we'd miss out on 3-4 months rent by going with scenario 2, not to mention the expense and hassle of the eviction itself. 

Not to mention we cannot afford anything over a total of $350K, so sure the numbers would still work for $220K but then we couldn't buy it lol.

You just have to look a little harder.You didn't mention Kansas City.

Preferred age of unit is no more than 40-50 years.

FYI, I flip locally in the South Bay market but cannot find the above mentioned buy and hold  matrix here. 

@Aristone Louxz Congratulations - you made a very smart move, and at such a young age! 

And chris i really love that you mentioned the house hacking method because thats really what i plan on doing with my first by and hold.

As I mentioned, for the time being I'd like to stay full time on my current job.

I feel I have received some non verbal criticism because of my age .as much forums and podcast I review over and over I'm still left deal less .