Buying real estate is highly emotional.

It’s very hands on for most owners (high turnover employees  and employees stealing bc of cash sales) so as long as that’s something you’re willing to do it’s likely a great option for you. 

Is there any recommendations on sights or places I can find good quality tenants. 

If I was you, I would work on paying off that credit card debt, before you get into another large debt, especially if that $7k is high interest debt. 

Pour concrete over it high enough so grass doesn’t grow over it.

Prices are also area specific , if you live in an area with a high cost of living , you will pay more . 

That isn't enough equity to move the needle now and since you are on a 5.75% FHA, your payments are probably still pretty high comparatively which might cut the ability to save more.

If you're not comfortable with what is written out and legally binding, I would highly recommend just looking somewhere else for property.

Hi all, My husband and I are high-income earners in a high income tax state (California).

Many of the other nearby homes are larger, so I thought the demand would be high for a furnished 2BD.