Unfortunately my wife's job started requiring her to come into the office in PA so we plan on relocating there.

Will the HVAC or Plumbing jobs be the main source or will the other sources bring in most of the $1M?

COVID showed that every admin job in the world can be done remotely.Then you just need trusted boots on the ground for local stuff.

It is very difficult if you have a W-2 job and for the IRS to consider you as a real estate professional.

As property values go up, investors can make a nice, tax free return on borrowed money.

I just quit my job as a teacher and am building my real estate business... since I no longer have a W-2 job, I most likely will need to use a hard money lender, correct? 

If not we could work out a down payment with cash, and finance the repairs through our day jobs. 

Seems to me that a 3-month stay is actually pretty nice because you don't have to think about anything as a landlord for three months but it's also a simple cleaning when they vacate.

The market in this area is pretty strong with quite a bit of population and job growth, near good schools, etc but in a relatively older part of town.

Having a simple written agreement of loan terms and responsibilities of the two parties is always nice and it doesn't have to be from an attorney just something clear that you both understand and agree to with a signature.