I’m interested in taking what I’ve made into properties that can provide me with passive income and capital appreciation.

Conventional loans are "full documentation", meaning they look at all of your expenses and income using "Debt to Income" ratio for cash flow.

One way to do this is by carefully keeping track of all the income and expenses related to your business.

This all depends on your income and risk tolerance.

Look at the whole market and all the factors that would effect income potential. 

Through depreciation, other income taxes are offset, through debt paydown and appreciation, he's going to gain $thousands per year in equity.Subjectively, it may appear not to be a deal, but if the buyer understands these factors and wants the property, an entry fee under $10K sounds like a deal. 

I will be opening a separate checking/savings account for the other side of the duplex to house rent income and property related expenses.

The house to produce some income, the acreage to sell to a developer some time in the future.

My credit is 770+ and my W-2 income is strong and healthy. any advice is greatly appreciated. 

You really don’t want to sell in under a month or you’re facing regular income tax plus self-employment tax instead of capital gains tax or zero tax if you move in.