If not, they close on the property and look for the flip.They also mentioned the made part of the business a real estate brokerage for the better properties they come across and sell them via the MLS.

As other people have mentioned, does it increase risk of being rent controlled down the road?

However, as I mentioned in my original post, my immediate goal is to move out of our current townhouse into a larger single-family home that better suits my family’s needs (we have a baby and a big dog).

As mentioned, it is virtually daily that there are posts that seem unlikely to have any path to a return that warrants holding the RE.i wish everyone be thorough and cautious in their underwriting.  

Your mention of using GRM as a first pass and then diving deeper into cap rates and IRR is exactly how I’ve seen some of the sharpest investors I know operate.I had a buddy in Chicago who bought a four-unit last year in Pilsen.

Hi Joe,Using a Home Equity Line of Credit (HELOC) on your primary residence can be a practical and low-cost way to fund flips, especially since the terms you mentioned include only a $200 yearly fee.

Also, you mention snow removal, is it ever the case that the tenant is responsible for some shoveling? 

Sorry to hear about this.You mentioned that the tenants haven't moved in...how long has it been vacant for?

This is a no-brainer to me, and the others have already mentioned it.

Quote from @Austin Wolff: Hey Kegan, I published on article on BiggerPockets specifically to answer this question for people like you (and selfishly for myself):The 10 Best Markets for Your First House HackNone of the states you mentioned are on this list, however.