In my short time, the feedback you guys have so freely given has been great!

With actual cash, you just transfer it. yes, but you can still bid with lender approval - without appraisal contingency - you send in deal (app), it gets approved by lender its functionally the same as cash (except in true lightning speed situations where there is a quick auction with little time to prep but thats generally pretty rare I'd think)Right, but that's not cash or functionally the same as cash because the lender can change the terms at the last minute, as often happens with less experienced hard money lenders.

I have been very interested in house hacking for some time but it is hard to make the numbers work.

But, if you do evict AND they request a hearing then the judge MAY interrupt the partial payment as acceptance of rent and therefore you would have to start the process over at the beginning of the next payment period.

Like you said, you don't want to grow super fast so take your time and watch the mortgage markets.

Those should not need attention (in a perfect world) for some time. 

I have been on BP a long time and maybe about eight years ago , a person had a small chance of finding a posted house for sale here that can be flipped.

Reducing risk requires at least some time spent in research and involvement in a deal.There are many other things you learn along the way as well. 

You'll likely need a higher down payment if you can find anyone willing to finance something like this as a first time investor; many require some level of rehab experience at the very least.

K-1 losses, generated through depreciation and cost segregation, can often offset distributions during the hold period, minimizing taxable income.