Annual property tax on it if you are a resident (and its your primary house) is $960.

I got a Heloc to buy a piece of property at the first of the year, 5.99%.

Need someone with experience and boots on the ground to manage the process: advertise, show, vet buyers, manage closing paperwork. 

Instead using the tax to work in your favor to purchase larger nicer property/properties. 

I think you have about 90 days to move into the property for an owner-occupied loan but I am not sure if that differs between FHA vs. conventional - @Zack Karp or @Jose Valdovinos could confirm that...Either way, I'd follow the advice of others above...give the seller two or even three separate offers that work for you. 

Material Participation in a Real Estate Trade or Business.This is pretty straightforward but you must materially participate in a real property trade or business, such as development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage.2.

Title managers are a great resource for market players. 

Make sure you have a great location analytics software to understand the type of neighborhood you are investing in.

Conduct a comprehensive inspection of the property to identify any significant issues or deferred maintenance.

Yes, section 8 voucher can be used to purchase property.