Feel free to reach out should you have additional questions.

Call the local-to-the-property community banks and credit unions.  

Run a credit/screening report on yourself.

It runs $50/yr if you want it to download, input, and reconcile all your bank and credit card charges automatically.

Year 3 we get $1000/month x 12 Months $12,000 + Depreciation (~3333) and we make a whopping $15,333/yearYou Buy a new house 30k down make $15,000 and Pay down an additional 19,000 on the mortgageYou've spent: 30k 2x (60k), and payed all your rent to the bank ~15k x 3 (45k) and put in an additional 19k each year to lower the mortgage 19x3 $58kOn the other hand:Let's keep that mortgage on the first houseYou've effectively made $15,000Year 2, let keep the mortgage (our interest is still significant and our assets have grown much)You've effectively made $15,000!

James, I tried doing this in another city which I was not a member of their mls, after signing the contract and paying the fee, there were a lot of additional charges, like they wanted me to pay for the lockbox and shipping fee, I had to take the lockbox to the property, in the contract they said they will post 15 pictures, but they wanted me to provide pictures they would just upload it.I'm just trying to say double check and make sure what is included and what is not, if you are in town, it will be a lot easier but for my case, I didn't want to drive few hours to run their errands.

Additionally, if flood risk is a concern, prioritize areas with lower risk profiles. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

In addition to the $106,000, we also paid ~$3500 in closing costs.

Our hope is to find ways to increase cashflow with this property short term and reduce our bleeding, and also consider the cost associated to implement.The property is 2 units fully occupied. 1 tenant already rents out our garage for an extra cost, the other tenants are left with no additional storage outside their unit.