I found the BP podcasts on YouTube looking for information on real estate investing and since I heard the first podcast I am “addicted”, listening to several shows a week.

So in my opinion, if I can’t predict the timing or the severity of market corrections, the next best thing would be to hedge for them.  

This is not to say I have not bought vacant as I have on several occasions but it has to be a strategic purpose (ie I have a contractor on area who will buy it from me and we have a ballpark price already determined).

I haven't attended the Dayton REIA in several years, so I don't know if he's still active there or not.I'm not sure how long Jerry has been doing TK properties. 

I've been interested in REI for several years but haven't had the opportunity and knowledge to get in strategically.

I am looking for 5-7K lot home, I see several in the market already.

I would say I  already completed a deal but it was more of a happy accident, I purchased my condo as a short sale several years ago and as of last year it is appraised at triple what I paid for it.

There several items that make this NOT a deal. 

There are several guidelines to purchase like living in one of the units but you already know FHA is the same.

If you're comfortable with debt and can qualify for this much financing, that $140k could give you several down payments.The point is you're in a position with a lot of options, and most of them will result in greater cash flow, fewer fees, and much better diversification.