I am going back out there to continue work.

The only way to truly know if the house is priced appropriately is to run the nearby sales comps for similar homes (sqFt, features, updates, etc).

You're young and on the right path, continue to learn, grow, and network.

I would make sure you button up the sale docs and ensure that you are not only secured on the sale but make sure that your docs give you an opportunity to monitor the continued conditions of the building.  

Would I suggest a newbie start spending thousands of $$$/month on marketing in hopes of finding an owner financing deal to live in and continue renting instead of house-hacking?  

Glad to see you here, gather as much as you can, network and continue to grow.

Should we work on paying down our student loan debt as much as we can or continue making the monthly payments as we always have and use the extra to finance our first property?

As you continue educating yourself on REI and honing in on your niche, reach out to the good folks on BP.

Occupancy, Preservation, Maintenance and Protection of the Property:Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument (or within sixty days of a later sale or transfer of the Property) and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's control.

Just a note on this.....Grand Rapids was featured in Forbes in January 2016 as the #1 place in the entire USA to invest in real estate.