First batch with postcards using first-class, then follow-up with yellow-letters using standard mail.

(doing this from memory but I think that is one of the provisions in the standard Texas sales agreement)I thought you had to sign off on the release of the escrow funds

I do not plan on limiting myself to residential only, but plan on increasing my portfolio to commercial in the future; trying to ‘think big’ now and plan backwards.

I think the best you can do at this point it get the property under a standard contract and wholesale it. 

As @Jay Hinrichs stated, the timber situation may have me in over my head as a rookie investor but it's never too early to have a few alternate strategies in my back pocket as my proficiency increases :) @Matt Katsaris, thanks for the heads up.

The goal is to live in our first home for 3-5 years, ride the increase in home values in Philadelphia, and then move to the suburbs. 

If you can purchase  a multi unit residence with an occupancy rate of 75% or less (as an example) and reposition the property by removing problem tenants and replacing them with quality tenants,  upgrading the property strategically, increase the occupancy rate to 95% and increase the rents to fair market value or better, then you have a gold mine!  

Ew Orleans because the flood insurance was $2400/yr with potential for continued increases with the ever-changing flood maps.

A broker told me last week that rentals in Hoboken is softening due to increased supply (e.g., completion of new constructions coming to markets with incentives for renters), and he expects rental price to stagnate or decline a little in the foreseeable future. 

I had a seller this year in a multiple offer situation reject a higher VA loan offer in favor of a lower, but otherwise very similar, conventional loan offer due to a very minor worry that the property wouldn't meet the VA minimum property standards.