Contact a local trailer park and ask who they use or refer for maintenance, should offer inspections for rather cheap, a lot cheaper than a standard home inspection, well worth the $.

It's a trope, but real estate is a relationship business that compounds on itself as you generate more and more happy customers.So keep your job and save up for that 6 months' savings that @Gregory Schwartz called out - that's a pretty standard figure for about how long it takes to see any sort of money coming in. 

Is there a standard application I can use for this new tenant to fill out available, and any recommendation of site to use for background/credit check?

As Jaysen said above, talk to some lenders in your area to see if they do commercial or portfolio loans, where they can be a little more creative than lenders who have to stick to conventional loan standards.4.

Make sure the envelope is slightly larger than a standard envelope.

This normally takes place without notifying the lender that a deed exchange has happened and could--in theory--trigger the Due on Sale/Transfer clause that is standard in most mortgage contracts. 

Its nice if it comes with a paying tenant and is cash flowing, but consider how long you'll have to manage the property before you can get it rehabbed to your standards.  

Most of the activity in the market is impacted by lending standards which are becoming tighter on conventional loans (25% now rather than 20% last month).

My standard advice to someone who wants to invest out of state in Kansas City (but it probably works in other areas as well) is to buy a duplex that meets at least the 1% rule with upside in rents for 150-175k.

It depends on how much customization you choose to do to the signs or if you use the standard template they offer.