Annual property tax on it if you are a resident (and its your primary house) is $960.

Lowes rewards actually gives us more than a $50 tool rental credit and a flood of emails trying to hype their programs. 

Negotiating the seller down on sale price from $200,000 - $185,000 to build some instant equity in the property.

I own 4 rental properties in LLCs in two other states. 

I know you are probably bummed about this and feel like you made a mistake, but if you can figure out how to hold this property and buy more properties and hold them then you will end up making significantly more money in the long run; you don't build a real estate portfolio by selling.

I think you have about 90 days to move into the property for an owner-occupied loan but I am not sure if that differs between FHA vs. conventional - @Zack Karp or @Jose Valdovinos could confirm that...Either way, I'd follow the advice of others above...give the seller two or even three separate offers that work for you. 

I have an investment property with a small front yard and average sized backyard. 

And there are sponsors that have survived multiple cycles with little to no money lost and sponsors that are brand-new (and everyone in between)So these all come with a wide range of projected returns, actual returns and experiences.

I have had a passion for real estate at the start of 2024 and I am hoping to buy my first property shortly.

What I have saved would ideally go to filing an LLC and earnest money when I get properties under contract.