@Krishna Rana- welcome ..one of the best  1st steps to take will be to get pre approved for a loan for a hypotehtical  purchase scenario ...even if you arent ready to buy ...this will help  educate  and organize and prepare yourself ...good luck  ( plus its  free )

Some loan options are:If you're looking to buy a property that's not move-in ready: You can get a fix and flip loan for an investment property with up to 90% of the purchase price and 100% of the rehab budget with up to 75% of the ARV.

If you took a $100,000 loan at a 8% interest rate, you would owe a total of $8,000 in interest.

I am considering selling the place, but not sure if I should given that I have a 142K loan in place with pre-payment penalty, or if I should just see this eviction through and just try my hand at getting another tenant in there vs possible lease optioning the home out. 

One way we do that is by pulling your credit report (but only after you’ve filled out our full loan application and agreed to our conditional terms).

I would also be using the VA Loan. 

15yr Fixed equity loan base rate could be as low as 10.25% at 100% loan to value, with a base APR as low as 10.25%.

If you are just getting out of high school, I don't know that a large DSCR loan seems like a good idea or possible, but maybe easier if you haven't built a ton of credit yet.

Finally, never be afraid to connect to local landlords/real estate investors and tap  into their network of service providers for leads and ideas.

I suggest you use around 10K to 15K to get a hard money loan set up at 100 percent funding (no money down) to renovate a property and then rent it out- but do not target making just enough to pay the mortgage.