How did you end up choosing STL, if you don’t mind me asking. 

Of course keep in mind that any amount would be minus $2K - $5K in closing costs. 

Texas or Florida come to mind because I could take advantage of the veteran property tax benefits and also the likelihood of obtaining a multi unit property would be much easier to get into.  

You may find that the base has enough room for the drain to flow the other way... there's also a trap under that drain that's not in the concrete mind you... it would only take an inch or two of extra space to be able to turn it to flow from the other side.

I am not looking for short term tenants with low salaries.Another thing to keep in mind is the tax implications of selling your rental property.

A thought came to mind and I couldn't find an answer anywhere.

Most losers who do this like this figure in their mind the deposit is the last months rent

If we are looking at a house for both of us strictly, we need to look at a different price point (more around 180k range) and than consider the next 1-2 years to save for a down-payment on an investment strictly.My question to this group: What are some pros and cons that you think about when determining - peace of mind living in your space vs. looking at the space as income-generating/business mainly?

I was thinking about 10%-15%, but in some instances that seems so low in my mind.  

But I will keep that advice in mind for the next one.