I'm also not sure if you could buy a house for $500K. 

can you start with a house hack where you live? 

It turned out there were aluminum wires so we upgraded the electrical service, removed all of the walls so we could rewire the house (4 bed 2 bath).

I follow BP to remind myself of where I came from with Duplexes and Houses in S.

I agree with @Caleb Brown and @Lynn McGeeinWhen I bought my first house in 2018 I had the same problems.

@Elan Adler - I think the reason you are not getting much in the way of responses is that you will not find a house for $250k here that rents for 2k. 

Same process anytime you sell a house that is leased out.

Starting from the basic, a house has laundry and a refrigerator and a place to eat, to be with your family.

A house 3 houses down was for sale and got bid up and we thought it went for too much.

If that number is greater than the purchase price of the house, then I would consider buying the property after looking at other factors (location, condition, neighborhood, zoning, etc).In other words, 6 straight months of rent should pay for the house.