House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment. 

Foreclosures ar near all time lows.

I do see the point @Steve K. and others are making about the annual turnover and low monthly rent being in conflict. 

This is an absolute no brainer. 

I don't work in Nashville area but $165 per sq ft seems quite low to me.In terms of financing, I would speak with a few construction lenders and also hard money lenders.

As a builder, I target about 15-20% profit per build ($500k-800k price range, low-mid in my area).

Quote from @Devin James: When running numbers on an investment property, I focus more on equity growth than monthly cash flow.Here’s why:If I can acquire a property at a low basis and add significant value, I can: 1) Sell and reinvest elsewhere 2) Cash-out refinance to recapture my investment.

The value of your SDIRA may be too low, but I'd recommend Gary Mobbs at South Star Bank in Gonzales, TX.

@Sara Habtom yeah, you will absolutely have loan options.

Like you said, your maintenance should be very low on BTR.