Rudy - as both of you suggested that going very far (like Aberdeen) is bit to much as I won`t be able to manage it on my own and I`ll getting C & D class tenants, This idea came to me by seeing that @Brandon Turner lives in a town near to Seattle and never complained anything about tenants even though he has most of this properties in the same area (may be I assumed ) but if I am trying to find deals near to Seattle, its difficult to find and also lot of competition.what could be a better strategy to enter into this game..How can I invite other BP members to share their view ? 

The house itself is not going to be worth much but I'm sure that acreage with horses and all is worth something.

Please feel free to send me deals and we can discuss them together on whether the property is worth an investment.

An I believe your lender is referring to the fact that owner-occupied properties are viewed as lower risk for Banks' Underwriters thus the terms are more favorable.

Of course you can find some gems that way, but is it worth your time to do so as opposed to finding deals via MLS, Craigslist, bandit signs, etc.

Can you have a look at both of these worksheets and let me know if you believe any of these assumptions are off from a general rule of thumb point of view.  

So even though they felt it was a risky transaction from their point of view, since it was all done in-house, they were willing to finance 100% of the deal. 

Will this affect my grant eligibility next year, if so would it be worth it?

If you come across anyone worth sharing please let me know! 

Worth looking into!