I would like to convert the garage into a one bedroom and rent either to another long term tenant or mid term (30 day min for professors or traveling nurses). 

The hard part with selling is you have such a cheap interest rate.

Anyone looking to invest in cheap real estate here, check me out!

Watch this podcast and learn the lesson the cheap way. 

I dont have any experience in this market but have looked into it a little bit, I know that you can get the houses pretty cheap there but my concern was with the long term appreciation - I dont believe it is a highly desirable place to live and so there wont be much appreciation -however that is just my opinion and I really didnt look into it much,  I think it would be a cool place to live as I go to Monterrey all the time, but its hard to say. 

You even graduated from IU so you have access to some awesome loan programs from IUCreditUnion.Keep your job and connections to buy a house, then rent out rooms to traveling nurses. 

It may just seem like a small amount because the properties there are pretty cheap, but if you back-calculate the property tax rate, it's relatively high (not Texas high, though).

My goal is to create generational wealth for my family and to eventually have the financial freedom to say "yes" to travel adventures as a family.

His strategy is to buy CHEAP properties for $30,000 sell them for $79,000.

However, considering the cost of the loan docs, and the amount at stake, this is not the place to cheap-out.