A little bit about my experience in Real Estate… I started a couple years ago doing some house flips in Detroit ( It was a 2 year plan) then decided to sell everything, moved to Washington DC which can't afford anything in the DMV area but last year I purchased a very nice 3500 SQFT Duplex in Shaker Heights, suburb of Cleveland.

Are you saying you would have to do something like foundation work in order to rehab the house? 

Here's my buying criteria for someone who wants to house hack:1.

(heavy rehab deals, flips, personal lending, etc)6,000,000 - Multifamily Syndications - With lower risk, greater diversification, and a 7% annualized preferred return paid out monthly, That's 35k/mo in true passive income while the invested principal is doubling or better every 5 yrs.I wouldn't spend a dime of the principal on houses, cars, fun, OR CHARITY because I can do that with the cash flow and end up giving more in the long run :)This strategy follows the commandments of investing:1.

This approach strikes the perfect balance between affordability and quality, maximizing your investment potential.For those who are just starting in real estate or have limited funds, house hacking can be a game-changer.

Land is unrestricted and not land lockedI’ve already got one rental and my current house will be a powerful rental.

one thing you should look at is what are the capital market drivers in the market. in our market housing, mixed use with restaurant and retail, higher density infill, affordable housing, etc. also look at fast track rezoning which is typically for affordable based projects. that's what I'd recommend.

There is one electric pole connected to both a metal building and a manufactured house.

I bought a great house from the foreclosure sale.

The family deal seems like it might be a good house hack if you can live there.