It is great to be enthusiastic, but realize there is also a huge sales and marketing tactic to get you to buy into those programs. 

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? 

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.  

My 22 year old relative is putting in an offer on a condo. 

This is a very real value that you can cash in on by selling the property or pulling a HELOC and reinvesting.Appreciation details and assumptions:While real estate appreciation is not guaranteed, historical trends can offer some predictive insight.

I wonder if they ever wound up making an offer.