This type of situation is fairly common where I live and where the housing stock is older and especially because often family's built multiple homes next to each other and perhaps even on the same parcel.

Hi Mike,Want to invest in single family rentals starting with my first one with an eventual goal to financial freedom.

I believe that (most) of your goals are attainable, but you would be wise to seek out assistance and receive personalized advice rather than what tidbits can be shared on these forums.

The 1% rule is not a viable goal now.  

Have a goal.

I'm new to living in NC and have had the goal of buying my first investment property for about a year at this point.

Cut the sponsors out of your investments and you'll do better.Yep it’s pretty common for investors to invest in syndications.

- Lina Hi Lina,Your situation is very common, and deciding between selling or investing more into your property to potentially increase its income is a pivotal choice.

During our conversation while getting to talk about my goals, she told me about BIGGERPOCKETS and I love what I see!

My goal of REI is to build a foundation of rental properties and would like to purchase one property every year for the next 10 or more years.