Your strategy of re-marketing a 3-bedroom plus office as a 4-bedroom home office is a smart way to boost rental demand and rental income without major renovations.One insight I’d add is the potential benefit of exploring cost segregation studies once you build a larger portfolio.

But I have started to take my real estate endeavors serious over the last year and my studies much more serious over the last 5 months and although I may not be ready, I am ready and eager to take that leap of faith and try and put what I know into affect with the right people and obtain my first property in the West Texas area via House Hacking or a buy and hold deal within the next 60-90 days. 

If you're going to start with one at a time, know and study your competition.Good luck....you are right in the heat of things. 

For example questions I like to ask are: What are the current rents, target rents and who did the market study to show you can get those rents?

The fact that it’s a major rehab over six figures makes it worth considering a cost segregation study.

Study the market.

Invest some of it in real estate companies with a Robinhood account, so you learn some of the lingo, read their reports, study how they make money. 

I.e. there is no way to study multiple cities for one fee, correct? 

I will have to continue to read, brainstorm and study.  

A recent study showed that 80 people are moving to this city every single week, which will continue to increase housing demand.