Review Anchor Loans, they have closed many investors I've worked with.

Do we try to just buy a modest house through foreclosure or some other screamin' deal, house hack, then build up our portfolio from there?

I'd recommend having enough to close on the deal + rehab + $5k in reserve as a minimum. 

Finding a good post to respond to takes me close to ten minutes.

House comps recent solds $555,000 up the road for 1400 sf house.

My logic behind a area to hold is basically is in my zone of knowledge that means close in and in a  A-B area .BIG fish can have the whole USA in their  zone .Outside of my zone I am thinking flip it there are exceptions like all rules . 

You cannot close an RE purchase or sale without using an RE attorney.

If you end up in Cleveland you'll want to read The Ultimate Guide to Grading Cleveland Neighborhoods to give yourself an in depth idea of the market.

Being nearby allows you to stay hands-on—you can see, touch, and fully immerse yourself in the process.There’s a lot to learn, not just about managing rentals but also about overseeing property management companies.Handling tenants and maintenance can feel overwhelming at times, but starting with a property close to home gives you the opportunity to gain valuable experience.

You can have multiple conventional mortgages and have a great credit score as long as you don't pay late or get too close to the maximum debt to income ratio.