I think you should start by getting the financials and condo docs together.

Just started using https://www.turbotenant.com/ it gives you a focal point to house documents, gives you a credit report and some other things but it's still your decision to make with the collected information. 

If you don't own a primary, that's the best place to start on this journey. 

House hacking is the BEST way to get into real estate investing and that's how I personally got started as well too.

Thanks for this perspective too @Aaron Zimmerman Based on this info above, I am starting to lean toward the $400k in cash versus the cash flow.

Hi everyone,I’m new to the U.S. and excited to start my real estate journey!

Is your income considered variable in nature depending on job sites and that you do not work a set amount of hours per week?

Don't want to pay tax on selling the rentals I unfortunately don't think they actually want to utilize the 121 to sell their existing primary and then potentially buy another one-it sounds like the goal is to ultimately continue owing that initial home which I think makes this whole plan 5x more likely to be torn apart under audit because they're trying to end up with the same property they started with.  

Is it a bad idea to start investing if I don't live in the country.

Oddly enough, we had it under contract about 48 hours after listing it.