To mitigate the risk of a future ban I evaluated these purchases through the lens of a long term rental.

So in order to buy another property with FHA, you have to refinance out of FHA on the first one.If your LO's are not walking through all of your options and strategies with the lens of a real estate investor, explaining the pros and cons, and looking 2,3,4 moves ahead with you, again you are talking to the wrong people. 

Everybody has different financial goals and different financial resources, so be sure and read what I write through your own lens, but $700k is a lot of money for your first house.

I always looked at tasks through the lens “how can this be improved” or “how can we do this better”.

In essence, a $100K single family property in a decent B neighborhood that rents for $1K a month should be looked at with a very different lens than a multi-family property in a D or F grade area, for example.

If you literally have no preference and are only looking through this lens then I would say a resounding:  Puerto Rico.Tax benefits thrown at you, island life, massive opportunities for adding value, access to US Gov'ment financing, rainforest and beach. 

I live in Knoxville and there are BRRRR's to be found but you need to look in the right places and with the right lens.

Clean everything again so it smells great then take new PROFESSIONAL photos WITHOUT the fisheye lens.

I've seen the process only through the lens of commercial real estate but not yet a single residence to know the barriers or likelihood of getting approval, but hopefully the planner you work with can help give you an idea.

I'm shooting with a Canon 5D Mk III, but there are a lot of others that would work well.Use a mid-range lens for exterior shots.