I would tell people today that if you buy a primary residence expect to stay in that home for atleast five years, especially with a FHA loan which has lower down payment as the current forecasts for home appreciation or very low which with closing costs on the buy and sell, it will take several years to have equity in the property and enough to be able to sell, so that is something also to consider.

You'll simply sit vacant for a few months, lower the price then get a tenant.

Everywhere I turn all I see are pitches for affordable housing and the same (not so) compelling arguments regurgitated by syndicators, capital raisers, brokers etc. for the investment strategy....strong returns...lower volatility....supply (huh?)

So it helps keep the turnover lower.

I’ll also connect with locals through BiggerPockets or Facebook groups for first-hand insights.If visiting isn’t an option, lean on a reliable local team (agents, property managers) to help vet the area.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

A 4 bedroom would have you competing with larger condos or townhouses with pools, a much lower rate of return. 

I know the seacoast of NH has been mentioned here but I wanted to point out a few options that could be considered.Hampton, a popular coastal town, has strong demand for multifamily units near the beach and a robust short-term rental market, especially in summer.

If you do have to move because of a job, you would be safest (in my opinion, i am not giving legal advice or financial advice), i would sell that property to ensure that you did not just purchase with the goal of moving out early and taking advantage of lower rates and lower down payments for purchasing your home as a primary residence. 

Assuming the area checks out, I’d rather buy in a high price area that has little to no cash flow rather than an area that has cash flow but lower price.