Did you hire an inspector when you purchased this property?

The best way to get started here (or anywhere) is to start by purchasing your own primary home because it's easier to qualify for the loan and it gives you a chance to build equity and you can purchase more house with a lower down payment.

My short-term goals are to purchase one property a year for the next 3-5 years through house hacking but I am also interested in learning about and pursuing other strategies in real estate investing.

A foreclosure purchase is typically done at an auction.

My partner and I use the subject to language from the AIR CRE forms as an addendum to the REPC - UtahSubject to language for purchase offer - Utah REPCBuyer(s) shall take title to the Property subject to the following existing deed(s) of trust securing the existing promissory note(s):(i) An Existing Note (“First Note”) with an unpaid balance as of the Closing of approximately:Said First Note is payable at $_____________ per month,Including interest at the rate of _________ per annum until paid (and/or the entire unpaid balance is due on ___________ (date).

The advantages are twofold - you secure favorable financing terms for your primary residence, and when you're ready to move on to the next property, you have the option to turn your initial purchase into a lucrative investment.

We have seen our property values appreciate by 2-3... and sometimes 4 fold since we purchased them between 2018 and 2021.  

I need to fix the garage, garbage disposal, and there's possibly mold in the attic (don't know how true this is since the guy who cleared my vents was getting me to purchase his service for $2k).

The biggest takeaway is learning the process and what steps you need to take to complete the purchase. 

During the refi boom I had people cancel on their lender and switch with me after they had signed closing documents(this was during the 3 day right of rescission for the VA loan) you may incur costs such as the appraisal, but other than that you shouldn’t owe anything to the lender.