There is another thing you shoul consider before investing is to locate your office, just make sure it is convenient and has minimal distractions.  

why is the property on the market (need for cash, moved - down-sizing - family)has it been previously listed - how much and for how long - why didn't it sellwill the seller consider - lease with option with possession - seller take back - a delayed settlement - 1031 exchange - joint venture with hybrid auction marketingdays on the marketalways read the remark section of the listingask the agent for some inside information (off the record) about the propertyWhy are you interested in this property?

I just ran some numbers through a couple different calculators (non-BP ones) and it seems that in order to produce a potentially positive cashflow (and even then with a pretty low CoC and Cap Rate) the sale price of the home would have to be closer to $470k w/ a 20-25% downpayment and all expenses would need to be on the minimal side.

Update on the original post: City Council in Hamilton, OH delayed any action due to too many attendees at their regular Council meeting.Source: http://www.journal-news.com/news/local-govt--politics/hamilton-delays-landlord-hearings-after-too-many-people-show/d2G0J8rVIKeDVSHrUYz7tL/

But making a move into a new career is just delaying your goal.

@Eric BarnettI moved property into my series LLC several years ago with (what I recall to be) minimal cost. 

We have no income to report and minimal deductions.

However, DTI is not calculated on the basis of a single year's tax return, but instead two years of tax returns are averaged to minimize the impact of expensive, one-time repairs.You don't really need a CPA to prepare a tax return.  

amazing way to build up primary residence tax free equity, with minimal downI would say that cashing out CO is the best option:  the market is so hot, and equity is no good just sitting around, might as well use it, especially in a place like Troy or Albany where there are tons of reasonably price properties... and cash is king, especially if you want to try the BRRRR strategy on your elbow grease!  

The lender will supply you with a loan letter you can give a copy of that with your offers and possibly give the owner a bit of confidence that you can close.Another thing you might do is locate your office location that is convenient and has a minimal of distractions.