I would agree and recommend to FHA into a duplex, rent out one side to substantially lower living costs, generate equity, and build cash flow.I’d recommend listening to Biggerpockets podcasts, there’s also a great selection of books available that help break down each aspect of Real Estate investing.Then honestly, just look and study the area that you are interested in starting out in to get a feel for everything and think about each property you see. 

Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon.

Excited to hear you guys are interested in taking on the challenge of controlling your future.

Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon.

Despite the property's substantial equity, the rising costs have put me in a challenging financial situation, as my monthly expenses now exceed the rental income.

There are some differences for sure but I don't think they are substantial.3) What laws should I watch out for (for example am I allowed to have the water/electricity be under the tenant's name) - You can put all utilities in the tenant's name, but I would advise keeping water in your name since that utility is a lien on the house itself.

Good for you in taking the plunge and getting that first property. 

Otherwise, what if they have a substantial increase in income and lose the voucher?

Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon.

Even during a 5 year holding period a properties value can double increasing equity substantially.