Guns N Roses also tried wholesaling, but they couldn't cut it so they just wrote a song about it.  

The other option is you can both choose to sell it.

Why not move into a Fixer upper for a year in the colony or in Carrollton. i choose those areas because they are close to Plano and i believe due the amount of Tech companies out in Plano all the homes that are affordable aka those two areas will have to go up in value. you can find a fixer upper for under 200k from whole sellers. 

What are all the problems/things to think about when choosing if I'd rather start out in a condo or townhome? 

However from my research I've learned many investors suggest calling 3-5 contractors and requesting clear quotes. 3 people could give you a good expected range, however 5 may let you throw out the outliers at the top and bottom (really cheap), then choose from the rest after calling and checking references!

This is a strategy many people choose to get started in REI.Hope that helped!

Or you can choose to purchase one or more with little leverage and one or more with maximum leverage.You could for instance purchase one property free and clear for $80K, use $20K as a down payment on a $100K rental, and use the last $50K as a down payment on a small multi. 

Yup, always a good idea to look at your property and objectively ask yourself "would a reasonable person choose to live here?"

This will be our second property, so want to be careful in choosing it.

For 30 years I am getting around 4.5 (P+I)  with a return of +$300/monthFor 15 years I am getting around 4 %( P+I) with a return of +$50/monthFor 10 years I am getting around 4% (P +I) with a return of -$219/monthI wa...