This effectively kills the deal at the original price but may be an opportunity if I can negotiate the price substantially down.I am still interested in getting opinions.Thank you! 

ALL of that payment is made with post-taxed funds AND you don't get to keep the interest, then lender does, which is substantial in the beginning of the loan.To speak to the post about leaving your employer and having the loan immediately due. 

If: 1) you reside or stay on the property at some point during the year; and 2) the property was not rented at a fair market rental price for more than 14 combined days during the year, then the income from the rents is likely not taxable(no matter how substantial the amount)!

As long as you have decent credit, substantial capital for down payment and a verifiable job, you are good as gold.

The surrounding counties generally have substantially lower tax rates with income opportunities as well. 

(Admittedly deferred taxation can be a substantial benefit) but still I don’t see real estate investing as being specifically favored by the tax code. 

Are these offers substantially lower than the ask on the properties?  

If so, you can save substantially on permitting, holding costs, and general headache.  

If there isnt a substantial difference between your payment on one of them, and the cash flow generated from 2 of them, you might be overplaying your vacancy risk.

My vision is to rent the home for about 10 years (or longer if there is still demand).My thought was to sell the home just after the 2 year mark for a substantial profit to an LLC that I will create.