I am going to assuming it's a nice house if it was your primary residence and it's in a nice location. 

I am a complete rookie to the real estate scene, I am looking to house hack for my first residence out of college.

The main reason I ask is because that is significantly below primary residence mortgage rates let alone any investment loans, if you can get rates like that I might need to make some changes on my end hahahTo answer your original question, assuming all else is equal long-term fixed rate debt is valuable. 

No one has ever asked me. 3) Depends on if you want longterm or short term residents. 5) We used Redstar https://www.redstarbackgrounds.com/ they give you accept/decline recommendations.

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

Also, as I prepare for estimates, would be helpful to know where my in year deductions actually are.  

I am a long time Little Rock investor and resident.

I’m wanting to be prepared and educated since I’m new to this and looking for advice.

@Colin Ford recommend getting experience with your RI duplex before going OOS.You should DIY manage the unit next door, so you LEARN about property management, the goog, the bad and the ugly.Then you'll be so much better prepared to invest OOS!

Conventional financing requires that you have a SSN, Permanent Residency in the US, and a US credit score.