A thought came to mind and I couldn't find an answer anywhere.

Most losers who do this like this figure in their mind the deposit is the last months rent

If we are looking at a house for both of us strictly, we need to look at a different price point (more around 180k range) and than consider the next 1-2 years to save for a down-payment on an investment strictly.My question to this group: What are some pros and cons that you think about when determining - peace of mind living in your space vs. looking at the space as income-generating/business mainly?

I was thinking about 10%-15%, but in some instances that seems so low in my mind.  

What do you think would have motivated the seller to dispose of the property, to pay off the debt?

But I will keep that advice in mind for the next one.

Maybe you find an area like that, one that you could technically drive to, but it have it managed just to put your mind at ease on this first deal. 

@Sean HaneganThe world's bursting at the seams with people who wouldn't have the strength of mind to make your decision.

One of these properties have a motivated seller and I want to jump on it. 

Nevertheless I am motivated and determined to learn.