Here is a blog post that will show you the divide in the comments section. http://www.biggerpockets.com/renewsblog/2012/01/28/how-to-buy-real-estate-after-a-strategic-default/ Though I will say it’s hard to defend staying in the home you did a short sale on, and putting a different name on the lease.

I currently wake up way too early to work as an aircraft mechanic and I am itching to progress into some buy and hold property investment.

I haven't quite saved the lower of the two amounts yet but am strategizing.

As long as the LO/lender knows what they are doing.Ok time for some next level stuff...Strategically, if you are looking to house hack several properties, there ABSOLUTELY is an order in which you should utilize your financing, so that you don't get stuck. 

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.Good luck and let me know if you have any questions.

This is just something that I have to think about strategically as well as emotionally, given my long-term plan.So, should I spend a little more time/money shopping around for a place that I LOVE or do I shop with my head and go for the property that will work for now, and make a nice rental in a few years?

For instance we wholesale, rehab and occasionally (when it's strategic for us to do so) list properties.

Granted, appreciation is NOT guaranteed; however, you can increase the likely hood by buying strategically.

Looking to build my wealth through strategic investments.

Plenty of very unhealthy people have incomes.Wealth is a strategic placement of funds, calculated decisions, and educated spending, saving, and investing that all equal a system in which one considers themselves "set up" to enjoy life without the constant hassle of making ends meet.Theoretically one could flip houses for years, earning well into the upper echelon of tax brackets and still not be wealthy, or be completely wealthy, depending on how they see the daily activities of their lives as either a job, or a hobby that pays well.But to get right down to what I think you're asking Christy, is "what is the best approach to wealth?"