There's pros and cons to both strategies, but the truth is this is entirely a personal choice.

We are using the title company of our choice, and the earnest money is in escrow with that title company.

I am wrestling with the choice of saving up for my primary residence, which will take time, versus starting to invest now.

The choice is all yours.

S-Corp tax treatment can be beneficial in some cases, but most start ups go with an LLC bc they are a little simpler and more flexible.

If you are trying to use profits for other means then keeping the house in the 401(k) might not be the right choice for you.You can certainly cash out these plans now, take the tax hit and invest in real estate.  

With that being said, I would choose FL over OH (since those are the 2 choices you gave).  

Naveen Kumar Ignoring PM choices, which I recommend if don't have any experience being a landlord, you can't really BRRRR a condo.Condos have a price uniformity to them as long as they aren't foreclosed.

@Zachary Hendricks,There are a few ways to structure it, incentives to offer, but in a nutshell, You need a solid contract and it's beneficial to have an attorney review it with the tenant buyer.   

@Gabriel Floyd, you've got a few choices but none are ideal.Your gain is roughly 50K plus a lot of depreciation recapture  (maybe another 40K to be recaptured).