I managed to save up a little over $30,000 to go toward my next rental, my main question is what would be my best next step to facilitate that goal.

@Matt HamanAn LLC isn't necessary for a new buy and hold investor and is more of an expense than a benefit.Most people will recommend just having enough insurance coverage.An LLC for buy and hold is a pass thru for tax purposes.

Single member LLCs are a disregarded entity for tax purposes.

I’ve mainly focused on out of state rentals so far but I just moved here a couple months ago.

"Deposit 123 Main Street" .

I had no idea about these terms and vocabulary used in evaluating rental property.My main question is,   What is a decent, good, and great number to achieve on rental houses in general  for these categories;Pro Forma Cap RateCash on Cash ROIPurchase Cap RateIncome-Expense Ratio 2% ruleDebt Coverage RatioTypical Cap RateGross Rent MultiplierBoth houses of rentals of mine, or single family ranch house.  

What's the purpose of having the balloon payment?

My main questions are how do I figure out what areas in York are going to be the best for rentals (high occupancy rates) and if anybody has tips for renting in the student market.I'm really excited to be a part of this community and I hope to learn a lot from all of you!

I guess my main question is with the 10k cash I have & credit score what route should I take to buy an house and be able to afford rehab.

It's not an exact match to your situation, but it has similarities, and I think you'd see tenants just as happy with baseboard heat that could increase the temperature ~10-15 degrees as you would with completely separate furnaces, with a MUCH lower upfront cost.I think the main thing to consider is how long you're planning on holding the property.