Tons of markets in the Midwest will have properties in the range you mentioned.

Eric Schwake As others have mentioned - performing notes are great investment vehicles.

Like @Peter Moser mentioned, since you only moved out a few weeks ago, you could rent it out for two years, get the principal paydown during that time, then sell it without being taxed on the capital gains.  

That is definitely something you can find even in this competitive market, not to mention a duplex under the HUD limit of $515,200.

You mention that you have a business, good credit, and your wife is also employed.

Quoting this because everyone is mentioned here. 

I'm closing on my first property (SFR), starting a sole proprietorship, and getting insurance.The article below mentions policy bundling (personal home, car, investment property, etc.) to save money.

Mention my name if you have a question.

I'm definitely going to be checking all of the things you mentioned, And what exactly would be considered a good credit score?

Do you have anything in your lease that mentions illegal occupants?