You can look into low-income neighborhoods usually the properties are of lower value, but I'm not quite sure if that applies everywhere but I know in Florida I see it here and there, and if you need help looking I don't mind helping.i would be wary about REO/HUD owned properties as a first time househack.

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.

Below is some copy & paste info about our methodology:----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

When your rental income is 1.5-2x the mortgage payment - as is typical for highly refined STR strategies - they're basically not concerned about the mortgage payment.

First, banks do not prefer W2 income over 1099 income at all.

I am planning two ADU's at two separate properties, I'll trade a large yard for additional income all day long.

I believe in putting in the work—1,000 hours of research, testing, and learning—before offering advice, and I’m excited to tap into the collective wisdom of this community to refine my approach.Here’s where my head is at: I’m considering strategies like short-term rentals (Airbnb) for higher cash flow, long-term rentals for steady income, or even creative options like house hacking or partnerships to stretch the funds further.

Quote from @Michael Daniel: @Jaycee Greene these are low income areas however there's a lil room for rent increase but not much. 

Long story short, you spend a month cleaning and renovating, then you find a new tenant after just 15 days.In total, you lost three months of rent income ($3,000) plus paying utilities ($500).

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.