I want to learn how to do this the right way, without coming across as overly focused on profits.If you have any tips or experiences to share, I’d be incredibly grateful.

I am betting you didn't put this (or the other ones) home on the market to then become the bank for someone who only has a couple thousand down and no credit instead of selling to a verified buyer, right?

The tenant pays a monthly premium and keeps an active bank account and credit card on file.

@Angelo LlamasAt the bare minimum, you should do the following to make your bookkeeping easier:- Dedicate one checking account and credit card exclusively to real estate.

Also, townhomes are a great bridge property, it's a common trend that those in townhomes are aspiring for home ownership meaning credit sensitive and with that right mindset. 

I know the grass is not always greener on the other side, but any tips on finding my next market?

Do you have an idea of the total tax credits?

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Typically Conventional will end 42% of DTI and FHA can get up to 51% DTI (and based on your credit score I think you should stretch to that 51%) Just a few things to start thinking about as you are working through the process. 

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.