(low value properties -125k for both) Intention was to do a BRRR on both.

AirDNA says the occupancy rate for STRs in Raleigh is 33%, which sounds low to me, and as I mentioned, there are 107 empty full-unit MTRs.

If not, I would not commit 120k to a condo if that is all your cash. 120k condos are going to be hard to find with appreciation, but the more you focus on cash flow, the more likelihood the HOA is struggling (low HOA, low maintenance, low priority).You have to figure out what the best asset is for 120k cash and where.

The cost of entry is low, and cash flow is high.

LOL But I did have a credit card with a $20K cash advance available.

The high-appreciation asset will gain more value monthly than the low-appreciation asset that spins off some cashflow.That said, are you sure the first home will appreciate more over time?

I will be house hacking my primary home and I am wondering that are the implications on Solar tax credit and bonus depreciation?

Especially because we have been spoiled with low rates fairly recently agoIf you haven't yet, go for a house hack, put low money down and kill two birds with one stone (a house you live in and a rental).

I know of some options where you can go to non-traditional lenders and use a DSCR (debt service coverage ratio) loans and you may be able to leverage that money and not have to rely on your credit to get approved.      

They are great for investing in from out of state since they are landlord-friendly, and have a low barrier of entry and cash flow.