(I do not want to do AirBnb) So I'm okay with even paying a few hundred a month if its acting as a second home, something like house hacking light.

We are currently using RentRedi but there is a long lead time from when the tenant pays to when the money is deposited into our account...sometimes up to 10 days.

I've personally invested in Groundfloor's 10-Year Anniversary Note paying 10% interest on a one-year term.

Learn, pay your dues, gather that experience, and by the time you're a very, very young 23-25, you'll be an experienced investor.

"you (a) may get that debt owed discharged, and'----Are you saying they can walk away without paying rent? 

@Patrick Philip Keep in mind banks will price there construction debt based on the Fed rate & expect to pay WSJ Prime +1/2 to 1 Point so 10% is not bad from an alternative lender at this time.

Do you understand your options regarding foreclosure if they stop paying?

Customers with good credit end up paying more when they use a "Broker" or Lender who are simply the "middle men".The other thing is there are new programs that only require 15% down for 2-4 units and almost all lenders and brokers require 20% to 25% or more for 2-4 unit multifamily investment purchases.

I advise clients NOT to buy empty lots, even ones right next to their properties and even if you're only paying a couple hundred bucks.The logic is pretty simple.

Secondly, GC's can generally get better pricing from suppliers, and unless you have a strong relationship with your subs, they may disappear for a higher paying job in the middle of your project.