Zip code 68104-Last years taxes = $1520-Purchase price and financed amount at 4.6% for 30 years = $120,000-Closing costs and funding fee (VA loan) = $9,200 paid out of pocket-Pretty much turn key property, minor repairs that I can do, less then $200 worth of work.

and the only thing I "really" look forward to is the day i don't have to do what someone else wants me to do in order to get paid. 

We will have a fair amount tied up in renovations when we are done, somewhere in the ball park or $65k, we only paid $35k for it though.

As such I am looking to get pre-approved for an FHA loan, since that seems the best way to get started. 

Or did you mean 5 year payoff as in the loans will balloon and will be required to be paid in full after 5 years completely ?

The only one I have paid for is Mashvisor, and I do not recommend it.

I recently turned down a scholarship for a paid masters program in Ecological Restoration (I'm an Environmental Scientist by trade).

You can’t expect someone to spend that much time without getting adequately paid.  

Ive paid down the house to 130k.

If the 5th of October comes and tenant hasn't paid their $650 - will you evict them?