With that being said I'll obviously be focusing on out of state.I know Ohio is mentioned a lot around here, specifically Columbus, and I'm an Ohio State alum, so that would be pretty cool to secure my first property in Ohio.

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

I regularly get sent underwriting on value adds in excess of 20%.I do not do work intensive value adds to flip so my acquisitions have slowed significantlygood luck

If I leave this amount in Sch-E, I get taxed at ordinary income tax rate at Federal and State level, which along with my regular W2 income can be substantial.

@David Lewis I'm regularly looking at multi-family listings on MLS and can only find cash flow in tertiary markets - think Lowell, Fitchburg, Springfield, etc.

@Nick Rivers If you've already taken courses and webinars, then the only thing that will help you become more proficient is by actually underwriting deals on a regular basis. 

I make my regular interest-only payments for the first 7 or 8 months, and my interest-only period lasts 5 years.

The building next to yours looks much nicer and has THREE security vehicles parked in front.

@Holly Thorsen see above for potential challenges tapping your equity in the rental.You only need 5% down for a regular mortgage, 3% down for an FHA mortgage - so why don't you have the funds?

- If the Association Fees are regularly increasing or the Association is poorly funded - SELL.3) How much of your TIME do you want to invest in all this?