You are already succeeding by living for free, which will increase what you can save for the next investment.1-2 years later, buy another one and turn the first property into a pure rental.

Goal would be to acquire 20 rentals by the age of retirement, with some already starting to be paid off.I am in the same boat as you, and I focus on safe appreciation all day (small cash flow for safety and then focused on markets on that appreciate). 

I can pay for all my problems using the cash flow from my current rentals.

But your entity doesn't own that rental property; so reporting it on a partnership tax return can potentially create issues as well. 

We've successfully used Mid South Home Rentals (division of Enterprise Realty, Arlington,Tn.) for 11 years now to manage our 24 doors of SFRs, duplexes, & 10 unit apartment..   

Ensuring your rental market can sustain these costs will help maintain profitability over time.The 7% DSCR loan is relatively high, and refinancing later at a lower rate could improve your long-term cash flow.

I added 2 section 8 units to my rental mix over the past 2 years and in general, no issues. 

Rental collection seems easy.

I believe the place I am looking at would be a great rental investment but I am not sure if the numbers are there or rather, I am not believing the numbers.

It appeals to desperation on both sides of the transaction, which also makes it a great online class to sell...