Main concerns1.

The main benefit of buying your primary home first is the first time government home buyer programs and the fact that you will get the lowest interest rates here plus the tax advantages and lower down payment etc. 

Below I've copied text from Pub 523 - Selling Your Home-------------------------------------------------------------------------------------If you own or live in more than one home, the test for determining which one is your main home is a “facts and circumstances” test.The most important factor is where you spend the most time.

The main question from above that I would greatly appreciate being answered is the tax implications.

With all this in mind, I have two main questions. 1.

I have a feeling it's mainly being referred to as the scams that go on there and the people who take advantage of new investors. 

I wanted to ask if it is possible to get a copy of the documents (mainly interested in the Note and Deed of Trust) from Riverside county?

The main principal is that you acquire them and hold them.  

#13 is a buy/fix/rent project near 140th & 11th in Grandview south of Main St.  3/1/0  Bought for $35,000 cash deal the rehab estimate is $8500.  

fha 203k is for mainly cosmetic work no structural and that sounds like structural.There is a 203 full K which can do structural work but that requires a HUD consultant review and a more involved process.Or get portfolio construction financing at your local portfolio lender or community bank.