This involves investing using solid criteria and fundamentals, not speculating or relying on appreciation or rent growth, and of course solid cash flow.

(I'm not interested in investing out of the area at this point, my work allows me the ability to self-manage and do maintenance myself, and I'd prefer to stay local, at least for a few years.) 

MOLD: You must take steps to limit the growth of mold in your apartment.

There are loan programs that would allow you to potentially use that income toward the loan but it's not possible to determine your ability to purchase without the detail that an official loan application brings.Also, don't worry about your credit until you meet with a banker and find out if your current credit will not work. 

You could have a long term lease set up that allows you total control of that property and the ability to sublease it to someone else.

What we do have is predictable growth and quality of tenants higher than most countries.

I have not yet closed on my house but now I am having buyer's remorse and thinking about the fact that buying this house on the upper end of my qualification will limit my ability to invest.

He said by paying her in full you have the ability and they option to user her as an investor in the future.

I think you need to look very, very carefully at the local job market and the key employers as well as growth and new construction inventory. 

Only Gatlinburg ever collected "nights rented" data and their reports show the same results - steady in 2008-2009 and growth onward.