After the rehabs and while still owner occupied consider if a refinance will allow you to obtain some of the sweat equity from the rehabs. 

The sister and fiance came and we said the brother could come on Sunday when another potential tenant views the property (the lady who I thought was coming tonight is actually coming Sunday).We sent them a follow up text message saying the qualifications to lease before we do the background check - gross monthly income $4800+ ($1600/month rental), favorable credit history, employed and pay stubs required, good references concerning rental payment, housekeeping, and property maintenance from ALL previous landlords.Her only question was if the income was combined (all 3 adults) or individually.

I bought the house in 2014 and have about 90k in equity.

My thought is that we can take advantage of the lower cost of living to start saving, and also be able to build a small amount of equity to be able to leverage to buy our first douplex/triplex after he has finished school.If anyone has any advice or suggestions, I'd love to hear it!

I found properties in Killeen with much more favorable cash flow numbers but there is more risk of vacancy and other things.

More equity means lower payment and higher monthly cashflow...my beer math tells me that.

Are you going to buy something to live in, put sweat equity in, and then flip or rent or are you looking strictly for rental property?

ROI = 18% plus increased equity and potentially a better tenant#2Investment: $1,500Increased NOI $0 but you do not have a vacancy for 1-3 months for repairs and tenant placement. 

Home owners will eat up buying a house they can put sweat equity into for a 20k to 30k return in future years.

No, as long as there's still equity, you can offer on it.2.