This will make it a lot easier to manage, will cost you less than buying on the market and typically you can get 1:1 rent returns.

Vacancy is a normal part of the business.

As long as your purchase, rehab and closing costs fall below 70% ARV then you won't have to bring any cash to close. 

You are adding costs and complications for no benefit at all.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

Outside systems like plumbing, sewage, and the water heater should be in good condition, and make sure there are no signs of pests.Additionally, look into property taxes, insurance costs, and zoning laws that could affect future development.

Oil heating costs are outrageous and you also have to deal with leaking tanks which can be a nightmare.

The webpage has them based in Maryland but they aren't listed in the state's business directory.

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

House hacking is a great way to reduce living costs while building equity, and BiggerPockets is a great place to network and gain insights.Good luck!