I could safely set a goal of $3k net cash flow in 3-5 years but why set a limit if there are ways to bring in 5k or 10k?

So I assume this would not be a wise purchase because it would limit my resale opportunity?  

Instead, I was able to live in a much nicer place because there is a limit to the rental market that does not seem to apply to owner occupied homes.

I am not limiting myself to Orlando currently.

Here are my statistics:Rental PropertyPurchased: $100kBalance: $76kLoan Terms: 30 year, 4.564% ($389/mo)Renting for $1300/mo with approximately 50% expenses ($115/mo profit)Primary ResidenceLoan Terms: 15 year, 2.969% ($610/mo) with $390/mo for taxes/insuranceBalance: $65kI want to buy more real estate, but I don't think we would be approved for another loan with our income limitations.

I've been told by an attorney to keep copies of my application records for 2 years because that's the statute of limitations for discrimination cases. 

Any situation.We have more than a few satisfied customers that will testify about how we have engineered real estate solutions for them in difficult situations including but not limited to distressed estate properties.

Justin:When Thomas asked about legal non-confirming, I do not believe he was implying your house is not compliant with building and fire codes, but was asking if it conformed to local zoning by-laws.We have student housing as well and it has been our experience that most university towns have occupancy by-laws limiting the number of un-related adults in a single dwelling unit (usually to 3 - 5) which are specifically aimed at student rooming houses.  

One of my wife's uncles was in charge of one of the properties which is zoned for commercial/residential, it is a 1708 Sqf office space/small warehouse on .36 acre lot.Which with some research it can be split into 2 lots.He let the property go to the dump, needs a new metal roof, and gutted, replace plumbing/bathroom, replace electrical etc...Now my wife’s Aunt is in charge of the estate and she was the one who approached me.She said they will "sell" me the property for $30K (estimates from Real estate agent say property is worth $43-$53K in current condition) Which then I could clean the property up and try to resell with the improvements.Now if I did replace the roof make the inside look nice and clean the overgrown landscaping I was told (real estate agent) it could get about $60K, but there are back taxes and liens on the property as well.Plus closing cost for when I sell it, I have run the numbers and it seems that I would MAYBE make $3000-$9000 conservatively.But I am real concerned over the fact that it is used as an office/commercial, and wouldn't this limit buyers?

Each city outside of Detroit's city limits is different from the next.