From not thinking it is possible with kids and family, to making the jump, we are currently starting on the path to get the stack started towards building wealth through real estate.    

@Ryan Maguire water in basements in the Midwest is almost a given unless you take steps to control it...what you are describing is a freak event...the sewer system was overwhelmed...getting 5in rain in this part of the country usually only happens from hurricanes from the Gulf...Sounds like you got it sorted...could have been worse

Only time I accept anything less if is it’s multiple renters and the other one or ones can qualify without the one with the poor credit score, someone comes from another country and they give me a printout of there credit score there, or the have no credit cause they’re actually fiscally responsible and have zero credit card debt at an age where most have plenty. 

This is a path that we've just recently started down and I wish I had known about it a long time ago.

I'm a US citizen based out of Davie, FL, but I also spend months in other countries for family and business.

Colorado Springs (El Paso Country) can be good but the regulations can be limiting. 

Not the crazy cash-flow as in other parts of the country, but we are still excited to get started and be in the green.Thanks for any input!

A toilet costs $109 whether you are in Chicago or the country.

I have a few questions, based on the answer to these questions, I can help advise you as to some options and what each of those paths look like?

There are first-time homebuyer programs that often allow down payments of 3% or 5%.That would mean you could get your $500K property for $25K + closing costs and would have probably about $70K of your downpayment money left.With that, you could buy 2x residencies for approx $150k each in well-performing locations in the country.