Thank  a lot for your insight guys!

With an eye to moving them with 1031 exchanges so you avoid tax on gain into FL when the time is right and you go for it actively and start playing in the sand box for yourself.

From my research there doesn't seem to be any one particular area that is the best place to invest in SA so I am just hoping to gain more experiences from recent purchasers and perhaps find out about local meet ups etc.I look forward to learning from this resource.ThanksScott

It's not paying your bills or providing your with gas money (your cash flow does that...more on that in a second)...so if you have a use for that equity, meaning you can leverage it to gain MORE investment properties, then who cares what the fees are?  

Even with a "manual underwrite" as suggested above, that is only for those federal loans and it would be very difficult to gain approval.  

What about moving into the rental for a period of time (making it your primary residence) and then selling to take capital gains exemption for your primary residence?

No brainer...I highly recommend new agents focus on gaining knowledge and building a book of business during their first year.  

The knowledge to be gained from this site is limitless and I can't get enough.

I'd be grateful to hear any insights you might be willing to share.

I appreciate your insight and wisdom.