Investment Property Type: The decision between single-family residences (SFRs) and duplexes largely depends on your investment goals and risk tolerance.

So, definitely a good market, but you do still have to search to find an opportunity that works with your particular set of circumstances (risk tolerance, financing method, cash flow requirements, etc.).

Figure out your risk tolerance, budget, product you are targeting...

Based on your age, your risk tolerance and you already having a ton of paid off properties, I would sell and continue to be debt free.

I realized that I didn’t address your main concern/motivation, building your family's financial security.If I were in your position I would live in the smallest/cheapest SF I could buy (and the family could tolerate/live in :), maybe something with a fixer upper aspect so I could learn some rehab skills, and buy a multi-family Investment property as close as possible to rent out.I realize that with your living in a rural area that might not be too close, so it’s suboptimal, but nonetheless that’s probably what I’d do in your situation.I would generally recommend that over buying another SF close to you and renting that out, because the numbers don’t usually work out for buying a SF at market prices; those usually end up being cash flow negative just because of the high initial cost due to competing with owner occupants and thus driving up the prices.You usually get more bang for your buck (lower price per unit) with a multi-family property, especially a 3F or 4F.

Just remember to be aware of the situation as it relates to your risk tolerance and objectives... and make your decisions based on your criteria.

It depends on your goals, your resources, risk tolerance etc. 

It really comes down to your goals, risk tolerance, having the right realtor, lenders, coaches, you trust to guide you through the process and help you achieve your goals.Hope that helps, and we can always jump on a call for more clarity.  

I was of the "C's get degrees" mindset for my undergrad and also had little tolerance for the 'petty assignments' - most of which I did not complete (maybe because I didn't go to class enough to even know I had an assignment due). 

I know of only a few pro investors who specialize in lower-tier props and make money at it, it's definitely not for new investors, and not for those without a very high risk tolerance - like the junk bonds of REI.