Together, with cosigning with his wife, she and I closed on a hundred year old house on Halloween of that same year for $145,000 with no down payment.

You are correct though, I wouldn't want to be misleading saying FB is bringing "hundreds" of jobs or anything, but I do think the size plays a big roll as Columbus has offered a lot of incentives for big companies to jump into this market.

Think of it from this stand point in a years time you'll have two homes worth combined ($180k + $120k) of $300k for just the cost of the increased mortgage amount of a few hundred dollars a month if you're not able to have the first home paid for by your renters. 

I mean I probably can throw in a few extra hundred dollars depending on the rehab I do, but is there other strategies for exit if my flip don’t work?

Condo Corp I know of replaced a couple hundred last summer because of it.

The few hundred dollars you are going to spend to confirm everything is good is far cheaper than the hundreds or thousands you could pay in the end.

It's great for one-ups, not doing hundreds or thousands.

If you sell to the sibling I imagine you are going to do it on installment sale, so it may be a wash for DTI purposes.If you gift it to the sibling, you must really love that sibling to gift (around a hundred thousand dollars?)

Ideally, I'd like to relocate to a good rental market because buying investment property hundreds of miles from where I live seems a little uncomfortable to me as a new investor. 

I'd bring a camera, a backup and a locksmith if your state and/or local jurisdiction has no restrictions from you going and changing the locks and starting your clean-out.Regarding the eviction...I've done hundreds of evictions but I've never done one for the benefit of the end buyer.