As your little one gets older, you will probably be interested in school districts.  

Price per square foot, residential rental rates per square foot, school zones that can affect pricing/taxes, etc.

In this case I underestimated the PA school taxes.  

I was also going to point out the income tax issue but Ron beat me to it.   2 other things to consider would be closeness to amenities (more restaurants, entertainment, and services in Clarksville, also closer to Nashville)  and the quality of the schools in the area.  

My girlfriend just got into graduate school and will be attending a 2 year program in Fort Lauderdale, FL in May.

Depending on what you want for experience you may contact one of the local real estate schools.

The strategy is best described in Joel Greenblatt's fantastic book, and an outstanding practical guide and tool for executing it can be found over at the Magic Diligence website.You can do either (or both) of those using the "leverage" of Options, allowing for substantial upside potential compared to standard stock purchases, with dramatically reduced downside (if you want a no-hype education on Options, Erik Kobayashi-Solomon's book is great).Those with the patience and inclination can indeed use Option trading to make money in any market condition (Wikipedia founder Jimbo Wales, Amazon's Jeff Bezos, and "Black Swan" author Nassim Taleb all spent time -- and made lots and lots of money -- as options traders in their careers).For even more leverage, you could of course do any of the above (and much more) on margin (meaning your brokerage lends you money to do the investment), though that's not something I would ever do personally.Also, if you focus on holding stocks (or options) for at least a year, you benefit from favorable tax treatment of the profits.

I just found a house that's in our ideal neighborhood (we'd use as a rental now and later move in when we move to the area because the schools).

I love hearing other investors school of thought Thank youTony V

I understand you finished school and have a great job.