But this was an awesome opportunity for me because this is my first living situation where I will be on my own (and getting used to paying a rent/mortgage) but this will put my overall mortgage on a 400k house at roughly $2000 a month for the first year!

If you go into Central or South Scottsdale (Old Town) $1M will buy you a smaller, older home, OR half of a big, remodeled home (as alot of the Arcadia and Old Town area are turning over old small homes to be big beautiful homes in the $2.5M range and higher).There are options.....for both buying and renting, that would work with your situation.By the way....it's 51 degrees in North Scottsdale right now where I live. 

@Isaac TerryIn terms of it being worthwhile, just like most other markets out of state if the barrier or entry is too high where you live, the landlord laws are not favorable where you live, and you are looking for positive cashflow then Cleveland can be a good option.

I ask because I hear single section 8 tenants like to have their bf/gf living in with them...Quote from @Rich N.: @Peter GoellerBecause they way Sec8 does it, is that their local Sec8 inspector is suppose to the know the market rate.So, let me clarify this. 

Living in top unit and renting out the bottom.

I'd highly recommend house hacking in your local market since you're in one of the highest cost of living areas in the US, especially if you're renting currently and planning on staying in the area for 5-10 years.It sounds sexy to go out and invest out of state for your first property.

After 25 months, If they can prove that they lived in the property for two of the past five years, they can sell it as an owner-occupied residence.

You may also want to consider buying this as a primary and living in it for a year.

Greetings BP community, I recently joined a national senior care living development team.

I actually live Pinellas County.