Thank you so much for the feedback!!!

Thanks for your help! 

The only way I KNEW it was a good deal is I had been researching two areas for about a year. 

However, while it can be debated, implementing the house hack strategy for your first deal is best advised.

If something went wrong, you didn't do enough to prevent it.It's a good book to shift your paradigm from " this happened because of some external factor" to "unknown external factors are always present and I need to try and account for as many of them as I can as best I can". 

The type of error may depend on the state and the mechanism the use for foreclosures.

For what state?

Quote from @Cooper Meurer: Lately, I have been mulling the idea of selling my primary residence and renting for 1-2 years before we leave the Midland area and move to the Texas Hill Country (surrounding Austin area)Reasoning for this:- I currently have around 120k in equity in my residence and I have a 4.75% interest rate. 

One option for funding is to use your IRA funds as a down payment (with or without a non-recourse loan for extra funds). 

For example, industrial properties often have lower land allocations and higher equipment allocations, whereas some retail centers might have heavy land basis depending on location.