And that is EXACTLY what you are contemplating--"looking to purchase my first home with INTENTIONS of flipping it". 

They were contemplating selling to me knowing I'm a real estate investor hoping that I could rent back to them for a lifetime lease while transferring ownership of the property to me, and I'd be responsible for taxes/insurance/remaining mortgage.I've done some research and it seems to be similar to a Home Reversion which is fairly common in European markets.

Our agent reacted very panicky and we are contemplating whether we reacted too quick.

I work construction so I am not afraid to get my hands dirty in these properties.I have been contemplating rentals out of state or local here in Salt Lake and for the most part I see high home values and low rents in my area.

I was contemplating a Cash out Refi to  A. lower interest rate 10 years ago was 4.75% (not planning to sell great cash flow) B.

I keep contemplating that strategy of staying employed and just passively investing.

From the Star Tribune article: "Under the proposed rule, landlords can’t deny an applicant on the basis of a misdemeanor if the conviction is older than three years and felonies seven years or older, and in certain cases of arson, assault or robbery, convictions more than 10 years old.

I'm contemplating something similar. 

The property really caught my attention a couple days ago when about 15 police cars and a bunch of dudes with assault rifles showed up and raided the home. 

Under the proposed rule, landlords can’t deny an applicant on the basis of a misdemeanor if the conviction is older than three years and felonies seven years or older, and in certain cases of arson, assault or robbery, convictions more than 10 years old.