We all make mistakes from time to time. 

Hi Everyone, I am an OOS first time investor and got a SMF built in 1920 (2 units, 1bd/1ba and 3bd/2ba) under contract at 20K below purchase price (@190K) with both units currently rented ($850 and $1200). 

Section 8 is not a great option for first-time landlords just because it requires more upkeep and working with the municipality.

Any suggestions would be highly appreciated and thank you for taking time to read my post. 

Now you're saying you are going to tie up a lot of cash, cash that could actually be making you money, for a year, and then go into a very large rehab (time and cost) project hoping to make money on it,...how? 

You will most likely have a hard time finding a lender to do a HELOC on an investment property though.

I work as a full-time worship pastor and I I've flipped a few houses over the years and looking to do more deals and move into some buy and holds in the next few years.

Use stuff like this and you'll have good markets and deals in no time. 

This is our first time being landlord. 

To add to what @Caleb Brown said, there are going to be times when you are not going to find similar comps and you might have to adjust based on the comps you have available.