While that may be a possibility in the future, I would prefer to have my first property nearby so that I can easily take care of the place and learn.Am I naive to think that I can find a good deal here that will give me positive cash flow?

I feel like if someone's headed down that road through their own choices, who am I to interrupt a life lesson in the making? 

Turns out the contractor was right so now they’re going to have no choice but to replace it.

My choice would be to mortgage and pull out every penny possible or sell and start over if they do not cash flow with full leverage.

Prefer SFH far and away for the following reasons:Easier to rent / more responsible tenant - built in buyer - lower maintenance issues ( tenants typically take care of incidentals )  - larger appreciation  - easier to sell - larger cash flow - low vacancy rates ( 1.2 % average over the last 3 years ) - easier to overall manage  All my units are in Winnebago County with the following averages appraised value  $88,000 / cash flow $312 m / LTV 67.2% / 5+ and 13+ remaining amortizations ( originally 7 and 15 full termed ) monthly expenses $54 m 2018 47 m 2017 so technically net cash flow would be $258 2018 and $265 2017.

Also, is there a credit card that anyone prefers because of the perks or any kind of other information in relation to this?

I have some folks who've expressed interest, so we may be able to sell without putting it on the market.Since we're empty nesters with an older dog (he just turned 12 yesterday), we'd prefer to be on 1st fl for all our sakes.My 5 yr goal is to acquire 2 MFH per year over the next 5 years. 

Lawrence,With your credit score, for a low down payment program you should be looking at a conventional 97% LTV program, preferably either HomeReady or Home Possible as they have better mortgage insurance rates as well as interest rates. 

It's the safest way to begin imo and a great choice for your first investment.

Preferably driving distance maybe a couple of hours away