I'd look at buying it as a personal property, not a rental. Fix it up, move in and make your current home the rental. Sell the first one in two years, pocket the first profit tax free (up to $250k for single, $500k if married). Wait another two or so years, then sell the second one, pocket more tax-free money, then FIRE. Or lather, rinse, repeat until you have enough to FIRE.