I hesitate to call the current market a bubble - there's just too much up in the air to really see what's what, and while RE is a big part of the general health and status of the economy, there are a number of other factors that determine what / when / how the correction happens.The bigger they are, the harder they fall, so unless we (collectively as a society) really have our crap together (which we don't), when we eventually do go down I think it's gonna be a doozy. 

A few additional pros and cons of an FHA loan is that the appraiser has stricter guidelines, one of them being that they have to point out any health and safety hazard that are present and require them to be fixed prior to closing, which translates to potentially a riskier transaction for the seller.

My problem is that beggars can't be choosers and it doesn't seem like a smart move to wait several years to save my first large DP.

Several reasons:1.

My wife and I are new to RE investing but have lived in Baltimore for several years.

I know for a fact there are several videos laying out the ins and outs of them.

I fully intend to rent out several of the rooms, possibly in a Short Term situation through AirBnB type sites, some rooms to what I hope to be my daughters college friends that have Mom & Dad to foot the bill for them :) Aside from that using a small MultiFamily is a great idea as well as even doing a live in fix and flip, these are all ways to house hack and unless you just can't stomach having "roommates" or living next door to your tenants then I just can't see a downside. 

@Logan CaudillI don’t ..however there’s many on here that have several hundred and actually many who have several thousand .

@Gene Walker, The former owner can raise this issue in several ways.1) They can provide sufficient evidence to the tax collector to persuade that person to declare the sale void. 

I have several rentals but this was the first time someone claimed of lock change that got me.