This approach will cover your mortgage and still cash flow, especially as current interest rates, expected to decline, may not offer immediate cash flow year one for LTR's.

No point in hypothesizing if they can even purchase. 2) Offer them money to move out.

I need assistant or advise on the feasibility of one of my crazy ideas.

I have couple of questions from people who are well versed with this zip code and can offer valuable suggestions / recommendations, if any. - Is New Port Richey a nice area to invest  from a buy and hold perspective? 

House hacking is so smart and you absolutely can offer your room for rent as well.

Also, you may want to consider using a note servicer (in my area many title companies offer this service). 

Wondering if others have had any mental blocks when making offers on their first property or buying their first property in general.What were they and how did you overcome them?

Some would argue this offers more protection.

It also offers a tax deduction and is a homestead protected against most financial issues or non payment under a Chapter 13 law and a rental is basically a debt burden that if you cannot pay or something happens you get evicted.

As the local governments struggle to manage tax payer money responsibly, they should really offer incentives to private builders to build "income restricted" at a much lower price. $220-$300/ft for vertical build costs.