If you can find some cash flow, the appreciation factor is a turbo-horsepower engine working in your favor.

Then look for markets with reasonable property taxes and insurance and that have favorable landlord/tenant statutes.

The terms tend to not be as favorable as FHA. 

I'm looking to move to Atlanta, GA in the next few months and set up a favorable house-hack in the process.

I would choose Phoenix because it is closer to home, the appreciation potential is very real, the cash flow is solid, the trends are extremely favorable, the operating expenses are lower (insurance, taxes, repairs & maintenance, etc.), and it is a hot market in many investors' eyes which should make your exit easier. 

I live in Redondo but have a fourplex in Long Beach where numbers are more favorable to investors (as are rent control laws).

Yes some states have slightly more favorable LLC laws (no annual fees or certifications, less stringent physical office requirements, service laws, etc), but I generally think the logistical headaches of maintaining a foreign LLC just aren't worth the slight procedural favorability.

Could anyone do me a favor...Tell me what you all think about this place.

The only joker is timing the closing of the sales so that your replacement purchase can fall within both timelines of the 1031s for the condos.One factor that is in your favor here is that LOIs for purchase of larger commercial and MF assets generally have a longer time line with several off ramps allowing you to get out of the contract. 

I offered shortly after it was posted which worked in my favor.