You will be able to keep your current property and still have a steady cash flow from that property as well have cash flow from the new purchase.

@Tyron White  Slow and steady wins the race.  

for income that can't be verified against paystubs that meet your criteria that show 3x the rent(or whatever your criteria is), you request last years or the past 2 years tax return for verification of said income to show how steady their income really is, which should show the full income from all sources.

The benefit: we have a steady renter who we trust (note, I still have to check his rental history.

For foreign investors, I tell them to set a price range and start looking into cities that:-Experiencing steady growth-Have well diversified economic basis' (tourism, energy, tech, etc.)That's pretty much it.

Then at that time, list it for sale  - rented - and you may find another investor would like the steady history on it and buy it with your tenant in it. 

As a result I came into a somewhat large sum of money, a business, and a steady/reliable monthly income.

Just do your homework, network, and take it slow and steady.

But if the agent has a steady track record, and can demonstrate (through emails, etc) that they were on top of it, there is a good chance that $1,000.00 is going to wind up being "tuition".

Yes, there was a bunch of volatility along the way,and there will continue to be volatility going forward, and there are methods of hedging your risks in the face of this volatility, but over the long haul, spanning multiple cycles and multiple decades, the appreciation trend is surprisingly steady and far easier to predict in some markets.