The goal is to mitigate the risk as much as possible with finding a good location and solid property.

I learned it was possible to buy investment properties and manage myself from a distance.

Do you think SCI can possibly pay a mortgage for ?

I am just getting started, but willing to learn as much as possible.

But ya have to make some educated prognostications in life.Add this to the information your processing - What your talking about doing is eliminating around $4000 or interest expense (which is deductible anyway so really could be a real impact of eliminating $2800 or so) of debt in exchange for paying over $10K in capital gains tax (don't forget possible state gains tax as well).  

I am brand new to real estate investing and still trying to learn as much as possible.

Check if it's possible to cash flow or break even after you move in 1 or 2 years.

There is no one-size-fits-all answer here. i have clients call me asking to lock in the maximum buy-down we can possibly allow; and others who think its a terrible idea. as other's have mentioned, i would first look at your recoupment period.

Maybe see about getting it turned into a section 8 and showing the tenant how to do that so you can get guaranteed rent from government if its a possibility?

Ask for a rate sheet with par rate pricing if possible.