First step for you is to study investing in income properties.Generally a rental property will have in the range of 4% -50% of rental income going toward expenses to maintain the investment before debt repayment (mortgage). 

The group is full of those that do that and the people range in size.

Memphis, Little Rock, Oklahoma City, and Tulsa are solid markets that many of our investors in your price range tap into. 

We are proud to offer a wide range of loan options at competitive rates.

I'm running your numbers and getting in the low 20% range.

.: What would be the price ranges of Class A, B and C properties in your markets ….If you don’t mind sharing, what are the definitions of Class A, B, etc?  

If you wanted to do a 1031 exchange down the road to use that equity and trade up then that'd be a good idea.The homes I’m looking at buying are in the 330,000-350,000 range.

Price RangeDefine your financial boundaries based on available capital and borrowing ability:For Class A & B, financing typically covers 75%-80% of the purchase price, allowing you to buy properties in the $6M-$12M range if you have $2.3M total cash.For Class C & D, due to higher risk, the price range might be reduced to $5M-$10M with the same cash.5.

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

Most that I sat through are in the 5k range.