I chose the secure path years ago concentrating on my career in the Oil & Gas business while raising my children with intentions on picking it up again later in my career.

The first tenant called a few days later to give a deposit and I had to tell them it was rented.They were angry but we have a business to run As long as we are upfront about the process it is fair to all I can not tell you how many appointments never showed up or how many people  delay on placing  the deposit. 

Put about $10k in and sold 3 yrs later for $107k.

Guy later went to jail for rustling cattle at night !

The vacancy and management costs you will incur from renting out the old condo will actually increase your DTI and make it harder for you to get a loan later.

I purchased that one already rehabbed and with a tenant in place. 1 1/2 years later I still had the tenant and they recently moved in to one I picked up for 10k and put 3,500 in to.

I received an original appraisal for 95K on prop I payed 72900 on, so I was excited about the deal. 2 weeks later I received another appraisal from the same company, dated the same as the original, but now for...you guessed it, 72900.

I saw you called yesterday, I'll give you a call back later this afternoon.

Start saving to invest later.3) Stay in condo, use income from work to pay debt, wait to refinance until most of debt is paid off & then we can use most of the equity to invest in real estate. 

But you can make a note to an LLC.The attorney would be one where the LLC is registered and where you operate.Put the costs of formation in your capital account, you can draw that back out later without tax consequences.