This seems like a nice balance of cash-flow and appreciation.1%+ RTP20% cap rate (not sure if this is feasible, but others suggest they reach 20%+).Probably SFR for my first propertyNot too much in initial repairs required

Technically a tax deed is ownership interest and now that I see tax deed in Alabama can be insured it seems that this would be feasible.

I did a quick search and it looks like they're mainly used for higher price points ($2M+) and/or refinancing.From what I read this didn't sound like a feasible option for something small, like purchasing a $500K 6-plex since you're looking at 3+ months to close and loads of paperwork.

I imagine Owner Occupied (OO) is not feasible given your age, meaning you are probably settled into a stable life potentially with a family and moving around isn't ideal...

Does anyone have any input regarding feasibility?

FHA and VA loans are great, but they are strict and you can get wrapped up in the underwriting that they require to close the loan.If FHA is no longer a feasible option for you, but you are trying to save the deal, you can perhaps switch to a conventional 5% down owner-occupied?

I'll look into arms length transactions to see if this concept is feasible, I appreciate that information! 

Do you have any feasible insurance providers where I can start a policy?

Would welcome thoughts  if my steps seem in the right order, if this seems like a feasible game plan, or any best practices. 

That's not really feasible with lending.