Capex, because if you don't budget for a roof, but need to replace it, you just spent the next 3 yrs of free cash flow, and unfortunately a new roof does not increase the value of your property much, if at all.Tenant because in my experience, rougher neighborhoods generate more turn over and higher turnover costs.  

Ltr generate less income, but much easier to manage with little time investment except when tenants turnover.

I want to purchase something that will generate cash flow, however the VA loan requires I live in the unit for at least the first year.

If you want to be successful, just randomly picking vendors takes a lot of time and effort. 

The exceptions may be in certain inheritance situations, especially where a “bypass” trust is used effectively resulting in 2 future generations enjoying the benefits of income while paying inheritance taxes only once.

I am pointing this out because in addition to the cash to close, you will need cash to finish that mother in law suite before you can generate income with it.

To begin with, being a buyer's agent on a team that already generates leads will allow you to get comfortable showing property and looking for the ins and outs of buying RE. but when you bring buyers "to" the team and then need to go off on shift, your other team members can assist you with your clients.

Property generates $66k in gross revenues per year, $86,500 once stabilized.

I have also done some research on different OOS areas that would generate positive cash flow, as this is my priority at the moment.

One of my properties is located in CA: I own it free and clear and it generates $800/month in pure cash flow, it is worth $380k.