The back-up plan is to simply flip the property and take the cash out now for the next project.The Project (2 unit Multi-Family):Acquisition/rehabLand Acquisition:     275k (I'd use my cash to buy)Hard Money Loan:  100k (I might use my home equity line at 4% APR over 20)ARV:                           465k (This is my best assumption based on other comps)Refinance:                348,650Cash out:                  26,250Income:Rent:                         1800x2 (This is conservative)Capex/Maint.          300x2Expenses:                400 (water/trash/electric/sewage/insurance)Using these numbers the property looks like it generates a COC return of about 30% per anum (on the 26k outstanding).

Maybe you'll get lucky and find something.Disclaimer: Consider this 2 cents worth of advice as I'm no expert so it may be all it's worth. :-)

Per a lot of articles trying to stick to the landlord friendly states, but I have heard good things on the forums about KC so looking at that as well.Will look for some meetups once I'm done with the above.Some of the resources I've been using to narrow down states in case someone else finds it useful:https://www.neighborhoodscout.com/in/indianapolis/... - Useful to get some high level info about crime rates, schools ... all the basics when selecting an area.

That's less than $40k per year.

Just my two cents...

, most of it is acquired through poker and i do make 5k per month (on avg because you can have like a 10k month but then next month be down like -1k like trading etc.) but it's not considered a real job i have the bank statements to prove to a lender but other then that i'm not sure what direction i should go any advice and posts are appreciated thanks!

For clarification are you meaning 5 or more units per property or as in buying wholesale duplex, tris, and quads?

You should ask for the leases and read them to see what exactly you are inheriting to better understand what you are on the hook for.As far as the past due rent, not sure why the owners think that you should be on the hook for them not enforcing a lease agreement properly, but maybe you can make a deal with them that passes on the $200 per month as long as he pays it. 

After that year, we had two rental properties that each cashflowed $200 per month and we didn’t have a single dime of our own money invested.

Understanding each area will vary, what would be the average or reasonable amount of investment per unit for budget considerations?