I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)

Most sellers are going to want 20-25% down as it’s going to cost them 10% to sell.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Hey @Matt Smith 👋🏽I agree that it's not worth renovating the basement - too costly.

I usually use the FMRs for the area as a minimum rent, but if you can attract non-S8 tenants, that works too.Can you share any numbers on the opportunity: purchase price/door, any rehab costs, ARV? 

Since you're using an FHA 203k loan and house hacking, focus on managing renovations efficiently to avoid delays and unexpected costs.

House hacking is a great way to build wealth while keeping your living costs low.

They cost slightly more than the normal permitting process, but I usually have permits in hand in a week or less.My GC is has some experience on Coronado, if you would like I can connect you, so you can get his opinion as well.

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.