A Title Company can distribute the proceeds based on the agreement, and consulting a CPA will help calculate tax liabilities and explore strategies like a 1031 exchange to minimize taxes.

After watching some of the podcasts and reading posts I am set on starting my real estate journey utilizing the house hacking strategy.

Thank you in advance to everyone who read this, and moreso to those who respond with their thoughts. 

I got into RE investing utilizing the same strategy as you're exploring.

What markets + strategies are you thinking of pursuing?

@Jeanette LandFrom my experience working with over 400 investors, growing your portfolio with limited capital is absolutely achievable with the right strategies.

What other investment strategies are you looking into? 

I'd underwrite the property, with that low interest rate assumable mortgage, to cash flow positively from day 1 as a long-term rental, but be willing and able to use the rent by the room strategy or to rent out part of the property as a Short Term Rental to dramatically increase cash flow during my occupancy. 

A great agent that truly understands what your investing strategy is and the why behind your goals is huge.

@Cole DobbsIn addition, I may be able to help you and connect you with some key real estate investor players in the Houston, Texas market since I am an Investor myself that have done most of these real estate investing strategies and also an investor-broker who has helped over 400 investors like you.