BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

It will be even harder as a young person with no life experience, and particularly no experience buying real estate. 

I have helped a lot of first time investors learn the process and successfully buy their first investment property. 

One of my CFO clients just did this last year and got cashed out over $1M, which he's using to buy more properties.

I would like to buy a multi-family and convert into micro units to maximize revenue.

This only really matters if you plan to buy a house again soon...within 9-12 months4.

Can you share some additional numbers about the investment property you're looking to buy?

Assuming the area checks out, I’d rather buy in a high price area that has little to no cash flow rather than an area that has cash flow but lower price.  

Our lot is fenced in and we cannot see where he lives but close enough to be of concern, but we want to stay in the same town until the kids are finished school.So, my question is this, would it make sense to rent our home (roughly $2300-2500/mo. as per real-estate agent claims), with the stipulation that the garage is used for my business AND buy a home nearby?

Where you pick will depend on your goals for cash flow and your budget to buy.