The traditional vacation rental areas are always great (PCB, Destin, etc.), but they also may be starting to get saturated.

(I include this only because I wonder if its relevant) Ive been listening to BP podcasts and wonder , should I only look at homes in foreclosure (what is an REO) what is considered a good deal on a home Im about to purchase (do I look at the sales of the other homes on the block) Should I stick with neighborhoods only or do  i go after a bargain thats sits alone out in the country(Is there a large market for those that want to live away from traditional neighborhood) What about these auctions at the courthouse...buying the house with a cashiers check?

A lot of the secondary market consists of people saying "I've got $50m and will purchase the next batch of Fannie Mae loans, paying 2% more than Fannie" -- so obviously that next batch goes into that MBS pool.That's what those people do now, but back then they decided it was more profitable to purchase crappy products than gold standard traditional Fannie. 

I'm guessing they are pretty traditional with their views on careers, go to college, get a job, work until you die.

Here is a breakdown that can help you get started.Purchase Price from Zillow- 84,900 (negotiate that) You need to find out what properties are selling for in the area.Are you attempting a traditional loan?

I wanted to let everyone know the recent important news for me individually and those still looking for traditional financing.

@ANISH TOLIATo add to what others have said if you do start a Solo 401K you can rollover traditional 401K from previous employers or rollover funds in your / your wife's traditional IRA to invest with, very powerful in my opinion, especially if you have built up a sizable chunk over the years.You and your wife should be the only full time employees but you could have part-time employees as long as they do not work more than 1000 hours/year I believe.

The larger more traditional companies can be a bit of a pain IMHO sometimes, but if they are a 100% commission house, then it generally doesn't matter.  

Selling Guide Fannie Mae Single Family Part B, Origination Through Closing Subpart 3, Underwriting Borrowers Chapter 5, Credit Assessment, Traditional Credit History pages 463, 465-466 https://www.fanniemae.com/content/guide/sel011713.pdfThere are what they call "lender overlays" which banks and lenders will tighten up the Fannie/Freddie guidelines to improve their overall performance.

Direct, you are securing a loan from the USDA, guaranteed the loan is from a traditional lender, but backed or guaranteed by the USDA.