@Jordan Graham If you go the Section 8 route, it's best to be prepared for all the red tape you'll need to deal with including the routine inspections.

Since you want more space this might not be the best route for you.

If the balloon really bothers you, do the owner-occupied route. 

My question is would you at some point consider bringing in someone to manage in house or would you prefer a PM company and if so why this route rather than in house?

But I feel that the Owner Finance route will be for that "Right Now" type cash flow that could provide financial freedom for my family now vs the rental's "long play".

And if you go that route, how long will it take you to acquire your first property?

You also can use DPA and go that route but your tie to the house for the required term before you can sell/refinance with cash out without having to pay what the DPA gave you for the DP.  

Offer a modest sum per month for any Law Enforcement Officer who is willing to move in and be night security guard.A small complex (~12 units) my friend lives in had a gang problem and went this route.

I am waiting the necessary time period to pass after the mortgage lates to try a more conventional route; also I lack the capital is my main issue.

Sorry mayng, I tried that same route and it didn't work.