With a house hack, you can make money while learning many of the essential skills you'll need to succeed in any other area of RE investing (e.g.; how to analyze properties, how to engage in a strong due diligence process, how to screen tenants, how to manage the property, how to build a network of contractors, plumbers, electricians and other pros, how to manage the book keeping of the property, etc., etc., etc.

Essentially, you invest by letting others invest in your deals rather than losing their retirement money in the coming stock market crash (already underway).

It was tough to find a deal that would cash flow properly with essentially no money down, but it forced us to find a property below market value.

Essentially, it killed the mold but you could still see the evidence of mold.

@Yoni RamrasThe refinance entails a ton of paperwork and verifications that could include income, cash reserves and credit.The process can take 30 days or longer depending on conditions and how fast the borrower gets their paperwork to the lender and if any conditions create new conditionsNot really the permitted plans, but to make sure the work was done in a workmanlike manner and that permits were pulled for work completed.An appraiser for the bank.  

Essentially they would take a Deed of Trust or Mortgage on the new place and an existing place.  

There are ways to hide your fee's from the buyers and sellers but most transactions will have that information right on the HUD (closing paper work). 

@Robert Leonard, so essentially what is most important to you is communication and assurance?

I talked to a lawyer today about this, and paraphrasing him, he essentially thought there was no reason to make that illegal and I felt like he thought it was silly. 

Thanks Mark, that's essentially what I'm trying to do but as you note it can be a little tricky when it's not worth it to fix an appliance that the tenant has damaged.