in addition, the property (2 units) has appreciated over $1m since acquired.  

My parents put up most of the money for the down payment and they're crediting 10% of the rents as equity to me each month as payment for managing the property until we reach an equal equity position. 

Your debts as well as your credit score also factor into all of us.Presuming you meet all of those qualifications, you should reach out to a realtor and ask about seeing it and go from there.  

I recieved the cancellation after the seller would not agree to a money credit .

To you folks that are paying gurus to learn lending, make sure 1) they actually have a formal credit/lending background and 2) make sure they went through at least the last major crash of 2007-2009 and lived to tell about it.

I am aiming for a home between 150-250k, which i can afford if all hell breaks loose, at a 5% conventional 30 year term loan (unless a lender or someone else can suggest me a better loan) My question is what are the minimum requirements for obtaining such a home (capital wise, credit score wise, salary wise) Who can i specifically talk to for these numbers and help me understand tenant demand, areas, and more specific information about my market?

However, rate would be prime + index + an additional +2% for the shock factor just to qualify, but you can draw the funds whenever you want and just pay the balance + interest vs cash out where you have to draw all the money after closing. 

You can use the extra income to pay down debt, save for retirement, or invest in additional properties.Tax Benefits: There may be tax advantages to renting out a portion of your home, such as deductions for mortgage interest, property taxes, and depreciation.

When getting insurance for your STR's, strongly consider getting the additional $1,000,000 liability umbrella coverage. 

All in, we'll be into it for about $300k but it's a bit 2,000 sq ft addition/ADU and we expect to get $4,000 - $5,000/mo gross rents.