I like where I live and it has the potential to be a good rental for me down the line, so I've decided to go through with making the purchase. 

The properties are often flawed and no well-suited for a family to live there long term (lot's of bedrooms, but tiny living room, no yard, no garage etc), that's why they sold for a discount an get used as STR.

Since I'm a contractor and we will be living in the property it will be easier to pull permits for the work.

I’ve been managing commercial real estate for about 10 years and want to start investing in real estate.Outside of real estate, I enjoy golf, live music, hanging out with friends and familyExcited to learn and connect with you all! 

If you are not planning to live in the property, then you are not going to qualify for an FHA loan.

Quote from @Keith Lincoln: Here's my situation.I currently live in upstate New York but am looking to move to Texas.

The area where i live, land is very expensive.

I currently live Levittown and a house around the block from me is on the market for 1.5m.

@Jose Saladin Purchasing your sister’s home as a live-in rental offers instant equity (~$170K), tax benefits, and landlord experience, making it a solid first step into real estate investing.

Sell your house if you have lived there 2 out of 5 years as a primary.