Some markets may be higher, and a lot of markets now are either break even or slightly negative for the first couple of years.

A lower down payment might lead to a break-even scenario or even negative cash flow.

Should I set-up and LLC before I begin developing and break ground?

It's like the house knows you need the money and something breaks. 

When things break, there is a quick response needed.  

As with any home you buy, it's nearly impossible to predict what will break and or when.

@Clare Cui I wouldn’t say I tip my handyman but I do give him a Christmas bonus during the holidays.

As far as house hacking, Baltimore can be a good place, just stick to the a class areas, I’d expect to break even on a house hack and best, you might even be out of pocket a little.

I was able to package three of them in one deal, which ended up breaking even/not profitable (A little bummed on this one since I think the buyer (an investor) won the better side of the deal in terms of gaining equity on the houses).

Keep this in mind when going the VA route for management.2) If a deal breaks/is no longer profitable because of Property Management Expenses, it might be best to find another deal with bigger margins.