But just looking from the information that you have wrote here just off the top a big red flag is the NOI.  

Choose your battle zone, research Property Management companies in your area and check sites for postings for jobs as you did, you'll find what minimum qualification they want.. but I'd still take chance and apply they might take you as is and train... 

@Chimi ChangaThere is a small area in Gunter, that is zoned Multi-family that is still building a few duplexs.  

Greyson county was the nearest county that received a "green" rating (using a relative scale from red to green colors... would translate to a 1-5 rating with 5 being best, or green).That piqued my interest at the time, but like you said, "surely there are deals close to me".  

I am certain that there shouldn't be any zoning restrictions as the street only has MF building (10, 4-plexes, including us) and they are all listed as MF Residences with a single account per building.Our reasons for wanting to reverse the conversion is,1 - Tax value, as condos we'd be paying a premium2 - Insurance3 - Mortgage (Cash purchase but we will want to cash-out refi) and as condos we would need 4 loans...

Pay attention to flood zone maps from FEMA and the need for flood insurance.

This is a study I did for one of our properties. the red dots are wells the yellow border encloses out land. the only place we could have put a septic/sandmound would have been under the existing garage. 

I decided that the only way to change my situation was to go outside of my comfort zone and be scared.

I decided that the only way to change my situation was to go outside of my comfort zone and be scared.

But has to be in descent area not war zone.