After more research into the MA Oxford house program, found out that MA doesn't have the Oxford program integrated into the State.

Downtown str's have done well and it's convenient to the front gate of NAS Pensacola but you could also consider near the beaches of Perdido Key since that is convenient to the back gate and it's a more traditional tourist destination. 

However, the lender I am working with is part of the Maryland mortgage program that give you the 25K silent loan that needs to be payed back if you sell or refinance.

This must be communicated up front because there are some lenders who have overlays.You can also buy the new primary after you take the cash out and use a DSCR loan program to buy another investment if you are worried about DTI as well.

Voucher programs are arduous and not for the faint of heart.

Research down payment assistance programs, partner with others, and consider house hacking.

Also you may know me for my educational events and mentoring programs and as I  have mentored some of the most successful apartment syndicators out there... 

Ask about their training programs, especially around investment-focused transactions, and find out if they offer mentoring opportunities.

@Nayeem Khan there is a local insurance program that combines both a vacant policy with a builders risk policy, avoiding the starting and stopping of multiple policies. 

How can I determine if the property is eligible for the Section 8 program?