Whatever you land on, make sure you save enough capital for furnishings and improvements. 

I’m actually currently saving funds but I should be ready around March.

I would add that you want to get contact info of there previous landlords or property managers if they have any.

No tax benefits but saving me time and money by not having to mow, fertilize, water ...

My recorded contract was the only thing that saved me he ended up buying me out of the property. 

Should I save more money?

@Peter Shah Depending on what you use the $200K for there may be ample options to save some of this money for a couple of years and then use those savings to fund your next deal.

You think you can save 10% by not hiring a property manager, then you lose far more because you don't know how to handle bad renters.

I think a short-term fix-and-flip loan would serve you better because, first, the credit requirements are typically lower than a DSCR loan's credit requirements, and fix-and-flip loans will fund a portion of the purchase price as well as some or all of the rehab costs (usually through the draw process).Right now, saving your cash, rebuilding your credit, and finding both a partner (ideally with a higher credit score AND experience) and lender you're comfortable with should be your priorities.

Dan, great info.