I started at age 20, dead broke with no experience but hungry with lots of time on my hands. 

Quote from @Dennis Bragg: Hey Josh, thanks for jumping in with such a bold approach.. it’s not every day you see someone your age pushing for a luxury twist on a single family rental.

@Raul VelazquezI would suffix what others wrote by saying that you need to understand that real estate really is a longer term wealth strategy - even though that is what you say you don't want due to your age / starting point.  

Due to the age of the home and the appraisal we ended up closing at 10k less than the asking price.

I fund land flippers in all these states and at your age I would be hunting down a parcel now U want to eventually move to...

The biggest factors, from what I can tell, are age and rebuild cost. 

Also, I am thinking of investing into real estate via a new Self Directed Roth Solo 401K account due to tax free distributions after age 59 1/2 instead of SEP IRA, any thoughts? 

I have never been shy of facing challenges and I truly believe knowledge is power (something my grandfather taught me at a young age)I really want to learn everything there is to learn about realestate and am driven and hungry.Thanks in advance for any suggestions or recommendations.

If you can get a better deal on the home due to age its a fine and if you need financing banks do not judge year built. 

@Leeling Chew we require anyone over the age of 18 to fill out an application for the property even if they plan to just be an occupant.