There isn't much scale in your current idea, but there are a lot of mobile home investors who figured out for low money down to start.

Where will the money come from to be able to do that?" 

@Zehua ZhouSounds like a lot of extra work and money?

It sucks that it takes 6-7 months and a lot of money for a eviction process.

Is the wife on board with a pure rental property or does she want to sell, save on taxes, and be done with it?

Expenses: $1,225 (Mortgage, taxes, insurance property management)Rent: $2400Cash Flow: $1,175Overall I'm looking for a low barrier to entry, and will be screening prospective tenants myself so I'm not too worried about the area being not so great.

If you can buy and hold, you will make money in the next 3-5 years, even though you may have a temporary negative equity experence. 

I recently sold a property, but I still receive notices for paying property taxes and utilities.

What are my options in financing my second property with the least amount of out of pocket money and/or using the equity in my first property.

Would it make sense to save up money to buy something cash, finance, wait for market to cool down, etc.