Learned all the lessons needed on this one for sure.I am now feeling the positive pressure from the huge mistake and looking to leverage all the resources I can to make sure I do long-distance real estate investing the right way from here on out.GOAL: I plan to purchase 3-5 SFH to hopefully cashflow $2,500+ in the next 2-3 months.

I have a HELOC on my Texas primary residence and am considering a house hack for my next purchase.

Here is some info: SF STR FAQAssuming the info is up-to-date, it must be your permanent residence (you must live at the property for a minimum 275 days a year), you can rent unhosted a max of 90 nights a year, you need a business license, and you need to pay the city $925 for a STR certificate.

One of the great things about having multiple residents per property per year is that you can iterate faster than with an LTR.

Quote from @Richa Wardhan: Regular lender financing, we have paid off 70% of our mortgage on the primary residence so we were loaned money without any issue. 

.- Depending on your budget, do you want a small condo or larger residence?  

Look at their rental history, the conditions of their previous residence, and ensure they have a good track record with past landlords.

Therefore that's why you void the contract and re-write the contract with the additional tenant and his terms and conditions as well as Qualifications and requirements for them to reside there.

So you are suggesting like me tryin to by a single family residence or a apartment unit and live in one of the units and rent the rest out as a house hacking strategy?  

Investment Info:Single-family residence buy & hold investment.