New construction is also a solid option because everything’s brand new, and you’re less likely to run into issues with maintenance early on.As for research, I’d focus on the local economy and rental demand.

I knew it was a long term play as well, and wasn't looking for something immediate with them.

How certain of the appreciation are you would also play into that question.Run some scenarios on what you could do with the extra cash vs what you stand to gain from the appreciation play and decide based on that and your goals.

It's even better than some other brands.

If you have rental(s) or plan to get one and want to decide between long/mid and short-term rental strategies taxes do play a roll if you have high W2 income you want to try and reduce you tax burden. 

That will play a factor for qualifying.

That’s the beauty of house hacking.. it’s a long-term play with massive upside.What to Look Out ForAnalyze the Numbers Thoroughly: With your goal of having the property cash flow once you move out, the key is to run your numbers with future rents in mind, not just what you’ll pay while living there.

It's easy to play the what if senario over in my head over and over again, but I've shifted from "What if" to "What's next"!

However, I received some feedback from one of my partners that the play here would be for an investor to subdivide or re plat the land for a multiple tenant situation.

I’ve been in a similar situation, and I think the idea of buying in lower-cost areas to renovate and rent out is a great play.