If there’s an existing mortgage on the property, a subject to combined with a seller second, or a wrap around loan, carry significant risk and possible negative credit impact for the seller (and buyer).  

I like to set rentals up for lower maintenance long term as much as possible.

Possibly 30/month. 

Unfortunately, you'll just need to get your pencil out and grab every expense possible in preparing this for sale.

If you're dead-set on OOS REI, then I'd suggest studying up on the books, articles, forum posts, videos, etc. on the subject, and talking with as many OOS investors as possible (ESPECIALLY inexperienced investors who tried OOS REI for one of their first deals).

While it's possible for more properties to become available, waiting for the perfect market isn't guaranteed.

Those hefty fees as mentioned generally make 10% down near impossible in this rate environment, but there are certain brackets that might make it possible.

Then if you’re satisfied with your team I’d recommend staying in the same location if possible to continue using the same players for a while.

I would definitely be hoping to put as little of a downpayment as possible and have been interested in FHA for a while.

I didn't think it was appropriate to outline my entire circumstance in my initial question thus I tried to form my question as concisely as possible.