Most likely the best course of action would be to rent out a room and try to generate some cash flow.

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The property I am considering to sell is 4 plex, generating approx. $6000/mo.

I haven't found the right way to generate other motivated sellers.

Flips could be a great way to generate income to purchase buy and holds!  

There is even one for Jefferson County.Lead generation is the lifeline of your business - you can go free or paid.

Since I did not have the ability to generate my own leads back then it was a win-win.

My rational is that repairs would not be a big issue and I could get warranty to offset any smaller repairs and so most of the generated rental income could be used towards the monthly payments and property taxes.

My goal is to start generating multiple streams of income.

I understand what cap rate was originally designed to do (as David pointed out) but in practice I see cap rate being defined and described the way it was NOT originally designed to do.I keep running into posts where the "experts" would define cap rate as follows:"The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.