While you will have more of an interest expense write off, your basis in the property will be reduced.  

Many times I've asked a neighbor to share in a common expense and they were relieved I had a solution to something they didn't know how to address or even that it could be addressed. 

What's your net after all expenses and some cap ex savings?

I can house hack once and subsidize my living expenses.

Foreclosure is expensive and time-consuming, so most lenders won't even begin the process of foreclosure until payments are 4-6 months behind.In a non-judicial foreclosure state like Georgia, the four weeks of public notices are all the advanced notice you're gonna get as an investor!

On average, 80 people move into Columbus weekly. 

I was envisioning some dude with expensive bespoke suits, gold watches and driving around in a Rolls Royce but he was super chill and down to earth. 

That rate is going to be a "national average"...not the rate that all lenders will offer. 

For example, could you scale and have the security of modest cashflow (somewhere between 2-5% after all expenses, including CapEX are accounted for), if you put 30% down? 

On average, 80 people move into Columbus weekly.