I live in El Paso, Texas but there’s not much potential for my goals here, what should I do?

There is so much potential there, yet it will take some heavy investment to get it looking like what is going on at all sides.

Your network is the most important piece for any potential returns when you invest out of state.Hope all of that makes sense.

would they potentially approve it for some making 60-65k a year? 

Gordon,You need to find out if there are any Environmental issues (either actual or potential). 

Simple 1007 option for your appraisal will depict potential rental income, AKA eventual DSC ratio (hopefully) greater than 1:1. 

Engage an architect, they will be able to advise you on how all of the issues written about here do or do not apply to your specific parcel. 

In that case, I might cash out now, since you probably have a low tax liability, and then find turn key out of state properties with good growth potential and more landlord friendly, than CA.

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