What if the property were to cash flow positively after moving out and renting the unit I was using (after living there for a year to satisfy FHA loan constraints, for example)?

Before deciding where to invest, I would encourage you to develop your investment criteria, budget, objectives, goals and liquidity constraints.

My theory is to follow Warren Buffet, who preaches to make money when you buy the asset, have the financial wherewithal to hold on to it forever if you could and always keep a margin of safety.

Here are a handful of things you get practice with: deal analysis - in order to actually find a deal that meets your financial criteria, you will have to hustle and analyze dozens, if not hundreds of deals.

Depends on how long you plan on staying and what your financials look like.

House hacking is one of the fastest and easiest ways to achieve financial success.

My problem is 20% down with 4.375% origination charge would be way to expensive, and I would not be financially comfortable to pay for closing cost and down payment alone.  

We've just had our first son & I want to be sure I'm doing everything I can to bolster our financial situation & ramp up to be sure he's always taken care of.  

My house is so old that financially it's not worth keeping anything.

I am not an expert on lagoon systems, but i would not consider anything else till i am sure that this lagoon will not kill my park and me financially.