I wanted to invest where I wanted to live and I am also from Elgin so am constantly headed further nw. 

Plus there is a lot to do here so it is hard to be bored living in NJ.

Currently our favorite idea is a SFH we can convert to an up down duplex by sealing off a staircase with an ADU on the property for us to live in.

I live about 30 minutes from downtown Atlanta so I'm not sure that a STL is good for my situation.

Quote from @Brendan Doherty': I’ve read in books of people getting past having to live in the property they own so they can rent all units year one of ownership(living on the property with an rv).

Hello all,I just closed on my primary residence with an FHA loan so I am not able to house hack since I am obligated to live in the residence for a year.

Having a long-term rental while living abroad is do-able.Flipping houses while abroad, in my opinion, more difficult, especially if its your first go around with real estate.I would recommend taking a flight and staying in the area for a week and inspect the neighborhoods and make connections.You can reach out to @Elenis Camargo who has a PM company in Jacksonville.Best of luck though.

I don't do this for a living and have no real world experience, but at 40% down, even with a 7% int rate, that seems like a high monthly payment.

I lived there for 10 years.

I own Granite and Pine Properties - a Direct to Seller Marketing company that focuses on giving sellers 3 selling options. https://graniteandpinere.com/My advertising is word of mouth, social media, SEO, mailers and cold callers.