Read Brandon Turner's Rental Property Investing Book and have been listening to the podcasts.mi

Economists note that job growth in typically underreported industries fell by 42,000 compared to the 6-month average, suggesting August’s numbers may understate actual gains.Key Employment GainsConstruction: +34,000 jobs, driven by heavy civil engineering and nonresidential trade contractors.Healthcare: +31,000 jobs, though slower than the past year's monthly average of 60,000.Social Assistance: +13,000 jobs, with more modest growth compared to previous months.Other growing sectors include financial activities, wholesale trade, and government (+24,000 jobs).Job Losses and Sector StrugglesManufacturing: -24,000 jobs.Retail: -11,100 jobs.Temporary help employment continues to shrink, reflecting business uncertainty.Wage and Fed Policy ImplicationsWages rose by 0.4% in August, up 3.8% year-over-year, supporting a cautious approach by the Federal Reserve on deeper rate cuts.

We already own a primary residence and vacation home, so this will be seen as an investment property. 

The area of which I am green in is real estate investing.

All, I consider myself a beginner in real estate investing, but savvy in business/finance.

That gives the agent a stronger offer and you have a greater chance of winning the home with a loan commitment versus a Pre-approval letter.As of this morning rates are down on all programs for Primary homes, Second/Vacation homes, and investment homes. 

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

I know it has only been a few weeks but I am considering them for a small investment with the one rate plan, as well.  

Check local courthouses or legal publications.Foreclosure Lists: You can acquire these from local courthouses or subscription-based services.Tax Delinquent Lists: Homes with overdue property taxes can be potential investment opportunities.

He would need to rely on one of the other tests, most likely #4 - significant participation, i.e. would need other investments outside of this partnership, and most likely other STRs.