Quote from @Jason Hatfield: We are looking at a house that is being auctioned next week in Gulf Shores.

@Daniel Madhavapallil Congratulations on your house hack!

Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee  

Rate is a function of price.

House hacking can work with an FHA loan, as rental income from other units might help you qualify, but be sure to consult with a lender or mortgage broker to explore flexible options based on your unique situation.Good luck!

Is your house in an area that is appreciating, easy to get good tenants? 

That helps some...but your variable expenses also go up too - property insurance & taxes - so a lot of your rent increases go to offset rising variable expenses.I started at the age of 47 in 2018 and we bought properties fast and furious - 12 the first year, 10 the next, and 9 in 2021 and currently have 38 properties. 

Currently we are seeing STR owners posting for sale due to reduction in prices they can get per night and the vacancy rate increasing. 

Quote from @Danielle B: I'm looking to get involved in Section 8 housing out-of-state - in OH.

Be mindful of a gift tax implications if you sell a house for less than FMV.Also be mindful of transactions between related parties when selling at a loss.