In West Texas, this is very common because many of the workforce travel from Houston or Dallas on a regular basis and renting a house is cheaper than staying in hotel rooms. 

i live at home saving every penny and maxing out my retirement accounts. i strongly want to own property//rental before the end of the year. i would not mind house hacking than rent it out after moving out (1 yr) to cash flow or would buying a rental in a cheaper market like mid west be better?

If you can live without one and would rather wait until things get cheaper some day (that horizon might be a year or two out), then do that. 

Cheaper too. 

I am thinking to bid exactly when it is served, since the bank drops 20k every month and the more I wait the cheaper I will get it.

They are all attorney approved.You can find an attorney that specializes in real estate and get one from them but the BP version is probably cheaper and better.You can scour the internet and find different ones from around the country, pick-and-choose your favorite parts, and then assemble your own.

Can you sell those cars and buy cheaper used cars?

The up front costs are cheaper than a mortgage and you can hold off accessing the equity (and paying the interest) until you need the capital.

Or as mentioned above - 100% JV funding options can be of major value to you, especially on your first deal or two to get some cash in your pocket - cheaper money follows the more experience you have.

West & south you can get in for a lot cheaper, rent for 5/10/20 years, and sell later on down the road when the property values go up