Keeping the properties separate is mostly for the different depreciable lives and it wouldn't matter a whole lot when you eventually go to sell the property.

I have a house close to Wichita Falls Texas and I live about 8 hours away from the property.

If you don't want to get your lenders in trouble, pick up a copy of Lend to Live in the BP bookstore for both of you to educate yourself on how to do it the proper way so that it's a true business transaction and not cutting corners just because you know each other personally. 

. - We have lived in the house more than two years

I have family in Raleigh, wife and I can't afford where we live in LA, CA so we're looking for an investment property elsewhere to get into some RE while we keep renting in CA, and Raleigh has that familial connection--who knows, maybe we'll move there but assuming we won't for this decision. 

Do you know the city, know anyone that lives there, ever visited? 

You might want to consider negotiating with the seller to resolve these issues as part of the deal.House Hacking: Living in one unit and renting out the others can be a great way to cover your mortgage and build equity.

I live in Garden City, Missouri, which is about 45 minutes drive from the property in Kansas City.The property is currently vacant.I own the home, have no loans or mortgages.

Parent A, parent B and Aunt A don’t live in the property.

If your wife is comfortable living close to other tenants you can get some low down payment loans and have the tenants cover most if not all of the mortgage.