In my opinion: Your current income is a major factor. 

I only gross $5600.. after taxes, benefits, 401k. its only  $3800 a month.. and if I take the 401k loan that's another $1160 out of my check 4.

What was offered to me personally was a DSCR loan, since it's based on rental income of the property you're trying to get a loan on, not previous and current personal income. 

While you may be able to make 200/door you probably lose that with lower appreciation.I would run some numbers on new purchases in Denver and one or two Midwest markets (using zip codes for household income to identify your b- neighborhoods) and see what makes sense.

Cashflow=Rental income- expensesRental income: how many rooms will you be renting out?

Your maintenance and repairs will always be a much higher percent of your gross income with lower rent properties.

I'd ask for the rent roll, or income statements.

A DTI (Debt-to-Income) ratio of 50% or lower, when including all expenses you pay/month, would be safe IMHO.

From a gross income perspective I think Holden is better but from a price point perspective Oak Island is better.

I have called around in my area and it seems like Property Management companies charge 10% of the gross Rent.