Buy more investment properties? 

TLDR: If you're in year 4 of 10 and pay the mortgage off, your payoff balance will be adjusted to reflect the cost of buying a gov't bond that will produce the equivalent amount of dividend payments for the remaining 6 years (in other words, one way or another, the lender is absolutely going to get their 10 years of payments).

You could also buy a traditional property and hire a property manager, but in this scenario you end up paying property manager fees (and likely higher-than-you-like financing costs to replace the debt from your condos). 

We’d like to assemble a real estate portfolio over the years, and would consider buying a rental property whilst living in our current home.I’m looking for any creative ideas or suggestions given our circumstances.

Why not buy it with private money, borrow enough for the purchase/repairs/carrying costs, and then refinance once the repairs are done?

When you are going to A areas I can understand but b- to c+ areas still working I belive.For example if you buy and fix for 80k and sell for 110k or 120k, why sell?

I used to do junk removal and demolition for these kinds of companies and saw all the worst case scenarios in columbus from tenants that can pay $800 per month. check the vetting requirements, raise the price to get into your unit. 900 per month is cheap in columbus if you are buying c class make sure to take a little more like 2 months rent so the people moving in aren't scraping by

You could have done that even before buying the property.

In general, what kind of things should landlord be looking for when buying landlord insurance to protect our interest. 

Investment Info:Single-family residence buy & hold investment.