Hopefully it balances out and ends up net positive. 

Positive SolutionsProblem: In my county small multi-family houses are nearly non-existent and short-term rentals and second-cooking-areas are illegal.Solution: House-hack while renting MTR to traveling medical professionalsProblem: I didn’t know the many laws of the countySolution: A hired attorney 1) informed me that the county calls a house-hack a boardinghouse and 2) drafted a very comprehensive agreement that includes answers to your list of questions.Problem: Interpersonal problems can be a risk.

I always make sure that the properties are cash flow positive, but the large bulk of the money I make from them is from the other items (appreciation, debt paydown, tax benefits, etc). 

Did you use a local bank that agreed to a Seller Carry in second position?

Many sellers will not accept this since they are in second position, and it is very risky since if you default (higher probability for investors with no money and/or no skin in the game), they will most likely be wiped out during a foreclosure.

She is in a good position with the contractor who appears to be in direct contact with the tenants in terms of minor fixes as they arise. 

Prises are so attractive but as soon as add the taxes….there goes the positive cash flow.

If you find the right property, you’ll likely position yourself for long-term success, even if there’s a brief vacancy period to navigate.

It sounds like you’re in a great position to get started—$100k saved up and a clear goal are huge advantages.

Gap funding or junior position funding is highly risky. your team has no real money in the deal..