One other thing to do is to find an office location that is convenient and has minimal distractions.  

However, with mortgage interest rates predicting to go up this year and the next upcoming years and with their still being some room to grab some minimal appreciation along the way, I'm trying to determine if now is a good time for my family to buy a home before rates start going above 5 and maybe even to six in the next few years?

@Natalie Kolodij and @Andrew Ware you're absolutely right If the property is a low value the returns from cost segregation would be accordingly low so on a $200K total property the benefits would be minimal, but if the building itself is over $200K less land then five figure tax savings are entirely possible.

. $100K for 7 years) that will allow her to minimize her cap gains taxes, while ensuring that I can leverage "attractive" financing as I am not in need of seller financing and would generally prefer to lock in 4-5% interest for 30 years (rather than be subject to higher "hard money" interest rates and shorter payback period).

Using your Air Force enlistment as a springboard to a career (as I did, too) probably indicates that you have what it takes to be successful in real estate investing.  

I know that could kick them out and raise the rent to 750/700 while just doing minimal clean up and do very well for cash flow and cash on cash which is all I care about. 

Also, I would encourage you to try for FHA to minimize your down payment.

I'd assume that the market land price would be a better indicator.  

.- build your credit (no more minimal payments, open small accounts and pay the statement balance in full)- build your capital (as a freshman in college, I know there is a need to go to social gatherings, etc. but save now/make it big and soon you'll be invited to all the social gatherings)- connect everywhere. awesome of you to start here at BP.

If you're looking for a good investment property, the 1% rule is supposed to be an indicator of that (though its not always accurate).