They're investing tons of money into those areas, and attracting a lot of good renters who work in the medical profession and will pay good rents to live close to their jobs. 

My wife and I have a W2 job. 

If it's on your credit, you are on the hook for it.However, it shouldn't effect the loan process too much, a simple Letter Of Explanation should be able to get the job done with the correct investor. 

It is hard and will be a full time time job to do it right. 

For example, if the job takes 20 hours at $25/hour, you’re looking at around $800 total.Expect quotes to be significantly higher, but use your formula to negotiate.

For example, cheap goods at Walmart let people buy more cheap crap but at the expense, at least partially, of good manufacturing jobs that supported local communities. 

Separately from all of that - I recommend reviewing your lease up procedures to improve verification of signing tenants and their agreement and aware of terms and conditions. 

The big pros are the strong job market (lots of major employers), good population growth, and still-reasonable entry prices.

Excited and looking forward to improving!

Since you have work history, if you get a job with salary income and a credit score above 640 (680 realistically), a conventional cashout refi is within reach as soon as you reach those metrics.