I wouldn't being a realtor is really hard to do successfully, it is essentially starting a small business, I'd either go to college or get a job and become an agent as a side hustle, that way you have a fall back if being an RE agent doesn't work out. 

If there is a way for you to work out a way to get a portion of the rent and check In on them moving out and you work together to make it happen than you may be able to save yourself some headache, time and a little money. 

There's a refinery near by that contracts work out to guys who usually come in and work a couple months at a time. 

2 - How important is the local employment opportunities to a professional that will usually commute and/or work out of their home?

It sounds like the original developer/builder had a bigger lot and subdivided to get more money per lot... not other way around :P Not sure if your plan will work out for the best here! 

Based on your current FHA situation, I don't think these will help (they would also have to be a primary residence) but here are 2 programs that could allow 0% down payment:There are VA loans if you are associated with the military: https://www.valoans.com/Or USDA Loans if there is a qualified rural area nearby:https://www.usdaloans.com/program/eligibility/Or if you can find an owner with some equity built up then maybe you could work out a seller financing deal.

Will be an owner occupied in California just have to work out when you are heading to California.

My experience--they don't work out very often--not sure why, it just works that way.

It also depends on how much work you plan to do yourself but your comment on wanting it to be passive leads me to conclude you plan to hire the work out. 

I hope you are able to make it work out.