The free market will eventually resolve the housing crisis either by construction of additional housing or due to an exodus due to people not being able to live there (or a combination of both). 

It all looks to be in good shape, clean and functional. 

Look how many commercial spaces are completely non-functional.

Your responsibility if you want to avoid all tax would be to purchase at least $150K using $50K of proceeds.If you want to combine multiple properties it is their aggregate value that will matter. 

  $ wise, it will be the least expensive (interest rate) to refinance my primary home to a 30 year mortgage, with enough cash out to payoff the rental property.That would change my total combined payment (including taxes and insurance for both properties) to $1300ish, giving me $380 more per month.Dollarwise that makes sense in an instant. 

No matter what your area of expertise is, one of the main functions and responsibilities that we all share, is to care for our clients.

Lenders who want to limit their exposure may agree to a "Combined Loan to Value" guideline that supports a seller second."

That's definitely a combination of things like how we conduct our marketing of available properties, stringent tenant screening, as well as the current market. 

Just have everything functional and that's it!

The combination of cash flow and strong future appreciation made this a perfect fit for a buy and hold strategy.