Or should I try to find a deal now and start the loan process?

@Karolina PowellA great way to start is by having a property manager tour the property with you.

According to our lawyer and case study, our base starting pay back is the 75k + taxes, interest, and insurance and not the 200k we paid so we subpoenaed the previous owner for all of his figures he spent renovating the house.

It's no guarantee but it's a good place to start.

@Phil Eck , I'd like to commend you for starting this topic.

Although no two people have the same experience while starting out, here’s a structured approach to help you get started:1.

In the beginning its common place to take debt under their name to start off. 

We manage 400+ units and only a handful are Section 8.

Quote from @Hughston Thackham: People see their equity and start to salivate.

I might suggest that once you get your next orders THEN we would start considering purchasing a 2-4 unit property (as an idea at least).Hope all of that makes sense.