It's not worth my time to deal with the hassle of conventional loan anymore, so I don't even consider it as an option.

I had few options so our cost doubled.  

House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment. 

Quote from @D'Ann Melnick: Saw this was an old question, but it came up in search - this is all part of the rent stabilization laws passed in 2024 - https://www.montgomerycountymd.gov/DHCA/Resources/Files/tena...The pet deposit cannot exceed $300 and the total amount of security deposits collected cannot exceed two month's rent.

Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

I give them a deadline to respond, very clear terms of how we will move forward with the option they choose, and I make it clear this is my final offer.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Security systems are easily outsmarted, that’s the point of the initial visit, to case the joint. 

Plus, compared to other parts of Florida, the Panhandle is still relatively affordable, making it a great option for first-time investors or those looking to diversify their portfolio.Another huge perk is Florida’s no state income tax and landlord-friendly laws, which make it easier to manage and profit from rental properties.

So I did a 3-2-1 buydown and secured a 2.875% interest loan for the first year of the loan, and it will gradually go up a percent each year until it hits my rate of 5.875%!