You mentioned a JV.

Having some crazy qualifier with a younger age being okay if they're married is where I could see it going straight into FHA territory.Not to mention, what kind of asinine thinking is that?!? 

There are also good deals to be found in the Suburbs of most of the areas mentioned.

Over time, that $115k will build you equity that you can leverage to purchase more properties, not to mention the monthly cashflow.

I also do not have any debt and like you mentioned, I'm looking for cashflow properties so that one day I can retire early and comfortably without relying on my 401k (as an example).I'm looking to buy my first (or maybe first 2) RE properties in the near future but I'm trying to learn as much as I can, find the best strategy that works for me, and build it up from there!

All of the various models (and more than are mentioned above) are potentially lucrative.

Estimate is high, try shopping around and potentially invest in better flooring like others mentioned on the post.

He says he is ready to retire and mentioned his first purchase was four buildings in an a+ neighborhood.

I'm likely going to mention that if it's a Dunkin' Donuts than I support it, but if fast food depreciates the value of your property I will be against it. 

. - A little high level but does mention some states in there.http://www.usmayors.org/wp-content/uploads/2017/05... - Employment info a bit dated but aligns with the price rises seen in those states.