The next step would be to see if the market can afford new supply. 

Pretty affordable, but not rent-free either, given that information, is it still worth it for you to live there?

The allure of an appreciating market and job growth sparks our interest, but at the same time, rents in the price ranges we're looking for will bring us a break-even situation at best for the foreseeable future.Then there are the tertiary locations where housing prices are much more affordable, and we could probably acquire doors more quickly, but these markets don't experience the same appreciation.

I can afford to get a brand set of appliances each month in lieu of a person who collects a check and calls contractors as tenants call them. 

We realize it wont be as affordable upfront, but feel like we may have a few less headaches in the southside/intracoastal west parts of town.I've tried to get in contact with some wholesalers to help us find a deal, but I either can't get them to call us back, or they're not willing to work with me since I am partnering with someone else out of Orlando.

As you mentioned you are fresh out of school with limited savings but as an owner occupied rental property owner you can qualify for lower down payment requirements (somewhere between 3.50% - 5%) and the Bank will take into account the anticipated rental income as part of your income so you will most likely be able to afford more than you think.  

Ok, so how many of you out there cannot afford to spring this much hosting a nice meal for your family.

@Chipo Asare - Without knowing more about your tenants, I would just add that I’d be cautious about raising rents due to the eviction moratorium.If these tenants are dropping hints that they may have difficulty affording a rent increase, they may become disgruntled if you proceed and decide to: A.) cont. paying you the lesser amount or B.) stop paying altogether. 

The young have decided it's time to buy a house given that affordability is all time highs because of all time low mortgage rates. 

After the window replacement, some cosmetic work, leveling, and rewiring the house will be livable and ready to rent.My question is after I finish establishing the new LLC and have the property transferred to it, how do I apply for a line of credit to afford all the work to be done?