I recommend that you join a local real estate investors association. www.gareia.com offers great training and networking for new investors.

Just be careful and go in eyes wide open and run your numbers.

You need a network of friends, family, etc that are in a position to buy or sell AND will use you (over the other brokers they know in their network of friends, family, etc).

Plus my local network of contractors.

You will meet a ton of like minded folks.Third: start building a network ie lawyer, realtor, CPA, inspector, loan officer, or preferred bank and property managers if flip goes sideways.That is my 2 cents on your up coming adventure.

@Michael Garry - I would attend local REIA events, network with investors, and offer to work for free to shadow them.  

There is a double-wide trailer on the property as well which rents for 550 and is currently occupied, same tenant would like to stay when property is sold. 

I know it's typically not great.I realize this is a wide open question, but I enjoy people's opinions on this board - any thoughts on paying down the balance of the rental to keep it cashflowing versus just buying a 3rd property?

I cant find anyone in my network, if they do have funds they rather stay in the market I just don't understand.

Syndicate a loan. ( I do not have a network yet )3.