@Brian Burke  Brian is right up the road from you in Santa Rosa.. you may want to chat with him off line.Wish you the best. n And if you do nothing not the end of the world you own in one of the strongest markets in the world your debt to equity is outstanding etc etc  you are were many dream to be.. and BP is if nothing full of real estate dreamers who are starting their journey and want to end up where your at. 

Any pointers / advice on how to go about conducting my own research ( such as nationwide indexes, unemployment rates, avg income per capita etc.) would be more than appreciated.Thanks!

Protecting the real estate value up to the outstanding loan balance is the prime consideration, however.General Rule ExceptionsWhile mortgage lenders require landlords to procure hazard insurance equal to the loan balance, there are occasional exceptions.

But when I search nation-wide I see banks with 2.2% and higher.

FMV, outstanding debt and terms, and NOI/cash flow for each property. 

In Phoenix we are seeing around 7% rent increases YoY which is extremely strong nationwide, but the entry prices to purchase is pushing north and the line up to buy is like 5 deep.Take a look at @David Thompson recent article.

If you need something nationwide, be prepare to pay ...

The purpose of those documents is that they establish the terms of the tenancy, that rent is paid, that there are no outstanding claims vs. the prior landlord, etc.

If I was to bid on the house, does the amount I bid automatically get applied to the IRS lien first because it’s the primary lien, or would I be applying those funds to the outstanding mortgage, and then be responsible for the full IRS lien?

Contact Ridge Lending (google them) they are a nationwide turnkey lender