From leaving my home friends and family I met some really good people and I hoped to share that experience and learn more about realestate in the process How did you find this deal and how did you negotiate it?

My first impression is that your numbers in the current economic climate seem a little rosy.I also have friends that are builders and I try to stay in touch with them on costs as we mostly do "to the studs" renovations when we buy a place. 

To list a few...Anyone who wants to increase their property’s income potential (and equity) and build new housing in a market that struggles with high prices, low supply, and few new construction.House hackers who live in their primary and want to airbnb an ADU love this strategy or vice versaInvestors who want to do both long term and short term benefit from having two separate units.Rental Restrictions on ADUs.Thankfully, Raleigh is very STR friendly and ADU friendly right now.

I was in a similar position a few years ago, but fortunately got married and our combined incomes helped us qualify for a larger house hack.We're on our second one in NOVA, Alexandria to be exact, and instead of rent by the room, we are renting out our walkout basement on Airbnb to monthly guests.That said, we have a number of friends doing well with rent by the room across NOVA, though they're purchasing homes with 5+ rooms or finding homes that can be renovated to include that setup.I'd recommend attending meetups such as the one I cohost, NOVA REI or Cashflow Breakfast Club or any of the others to meet those who are house hacking.

She goes with friends to more events as I am not an addict or in the program.Live music and dancing!

Also if any NJ agents that are familiar with using these and transitioning out of them can reach out for some advice and education that would be great seeing that I will need an investor Friendly agent over here to help guide me through everything.

EX: Income $700k (w-2, rental income and dividends and interest) - rental expenses/depreciation $117k = taxable income $583k.

STR-friendly markets make it easier to get started and grow your business, and the lack of state income tax is a huge perk.

All of this said, be sure to do your research on STR regulations first and find a STR friendly location.

I was envious of a friends big gorgeous fixers in Arkansas, and I reacted by over-renovating, holding on too long, getting over-leveraged and then 2008 happened and…well enough said.