The only thing you will have to be sure of before you make the purchase is that you don't mind living in the house for a year (or whatever the required period is), the loan type that you get will not hamper you/ or preclude you from getting a loan with the better terms when you are ready to purchase a home for you to stay in more permanently.

Just don't dump all your first load of cash into your first permanent residence.  

I'm a completely new buyer and this is my first project, I'm either going to own this house or not. The deciding factor is if it is smart, safe, and profitable to own a house that's in a completely different location ...

Streets must either be devoted to public use and maintenance, or private streets protected by permanent recorded Easements.The remaining economic life, as determined by the appraisal, must be greater than or equal to the term of the proposed mortgage.Be free of any encroachments.

I like this saying:"Pigs get fat, Hogs get slaughtered"  

We just launched a permanent fix that will get rid of it forever; if you log out of your account and then log back in it will not re-appear ever again.

Upon completing my first deal, I would like to take that opportunity/income and create a more permanent opportunity to become a full-time agent and focus solely on real estate. 

Permanent buildings have different building codes.

My goal is to purchase homes with the intent of rehabbing/remodeling, and then re-selling them to private investors as investment property, or to individuals or families to become their permanent residence.

Do you have any wealthy family or friends that have a big fat bank account that you could "borrow" their bank statement as proof of funds, then put it under contract and wholesale it?