I generally agree that buying SFH as first investment is an easy way to test the waters; however, if you’re set on REI I suggest buying a duplex or quad.

Oregon also requires any person or entity that is flipping homes even one home to have a developers license there is no test for it just need and pay the fee..

For example, if the area is rural you might wish to have the house inspected, the well tested, and the septic system inspected by separate services.

Quote from @Joseph Bushnell: I'm testing out the idea of building a data center and I was wondering if anybody has heard of owning the building and having a third party operate the data center itself.  

You need to always be changing with the market, testing and poking to see what marketing works better and what does not work at all. 

We can use the original part of the house for rental as well, which is valuable to help use understand the STR rental market better, ie what income we actually get as all we have current is the airbnb site itself and airdna (an airbnb analytics site).In short I think the downside is limited, and this deal with give valuable experience while testing my beliefs that it will make me some money!

Additionally, don’t overlook the opportunity cost of pulling money from your 401k—those funds could have been compounding in the market.I’d also suggest stress testing your ROI by running scenarios with higher expenses or lower rents to see how resilient the investment is.

and usually take the state test to get the license and skip the federal part of the test ..

Did you only remove the drywall and flooring and not do any testing? 

Now is not the time to “test the market” with an ambitious price to “see what happens.”