And want to buy using my second tier entitlement However, If I am going through an FHA process at the moment and closing at the end of the month, Could I Still use it Same time?!?

Similar to how we can't convey the beauty of a sunset with data, and we can't (yet) convey many of the most important idiosyncrasies of real estate with data...le sigh.Now, does that mean we shouldn't pay attention to data?

But they are nervous that could happen at any moment and our intentions have always been to sell the home or keep it and move sister in-law out and rent it out to college students since the home is 3 blocks away from a well-known university.

The biggest value add were the full kitchen with taking out a wall to open it and adding a pantry, Tearing up the old tile and vinyl and laying new luxury vinyl water proof floors with beautiful tile in the laundry and bathroom, and also the full primary bath remodel with adding a standing shower, and the new exterior paint and landscaping.

Not in a position to explore one at the moment.

Some landlords and property owners will call you assuming they can scam you into overpaying for their property...these may be motivated sellers later on, but at the moment, they're not worth dealing with and your screening process needs to be able to flush them out.Financials Asking Price Mortgage loan balance Any 2nd mortgage on property?

Unfortunately, a lot of people are losing their shirts on ARV-dependent strategies at the moment. 

Goal is to have my kids have those multiple Ah - ha moments sooner than later

Any strategy that requires you to hit an ARV is exceptionally risky at the moment, given the state of the market (even highly experienced pros are staying away from ARV-dependent strategies right now).

I disagree with your premise about "smart" based on a quick google search and this story (sorry, can't access Pacer at the moment to get a link to case): "Allen Weisselberg, who for decades was one of Donald Trump's most trusted and loyal employees as chief financial officer of the Trump family business, pleaded guilty on Thursday to 15 counts ranging from grand larceny to tax fraud to falsifying business records, becoming the latest person close to the 45th president to plead guilty or be convicted at trial of a felony."