I've closed loans with entities way less than 6 months old.You have a long road ahead of you of you can't bring the capital or credit. 

My thought ahead of time was similar to you “I want to try these” - thinking I could self install islands of carpet in bedrooms myself and have the ability to patch if needed between tenants.

House hacking is a powerful strategy that can put you far ahead financially compared to those buying a primary residence or continuing to rent.

Conversely, rushing into deals without thorough due diligence is something I would avoid.

Conversely, rushing into deals without thorough due diligence is something I would avoid.

Although you can call the existing reservations and give them a heads up and link to the new listing.

But some do, so just make sure you are planning ahead. 

I am assuming you avoid that thinking you will come out ahead micro-managing for minutes. 

Not in a rush to pull the money out.I wouldn't mind renting it out but the wife said no.

I went ahead and just recommended that they get lawyers involved and go from there.