I feel a sense of urgency to start investing soon, but as a small business owner who just showed a profit for the first time two years ago, disposable income doesn't come easily.

(Not by using Google maps because they can easily be outdated pictures) There should be some.

That could easily be a year of holding costs plus thousands or even tens of thousands of dollars in fees just to submit to the city/county.  

(Not by using Google maps because they can easily be outdated pictures) There should be some.

So im looking at a deal and it will easily meet the 2% rule but honestly not sure if house is worth the money but in that case should you still purchase? 

It's completely situational to each person, but if it will cashflow and the profits from a sale can't be easily used on something else that will make you more money it can be a good route to follow.

Two, the natural hard wood floors are protected so if I decide to sell the property in five years, I can just take up the vinyl easily and reveal the hardwood floors for the actual sale.

Their payment is $1,080 and the house would easily bring $1500-1600 per month rent.

Therefore if you can find some deals at wholesale prices you'll easily a find an end-buyer for your property. 

Others get their license so they can pocket that 3% more easily.