Although, there are costs associated with forming and maintaining an LLC, such as state filing fees and annual reports that are to be noted. 

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.

Does your insurance agent come meet with you about his 15% annual increase?

If he could loan this money out at 12% plus 3 points, which is optimistic, that’s a 15% annualized return.

Some are free and some have an annual fee.

The first floor is a commercial space housing a pizza shop that grosses $800k annually.

Quote from @Austin Wolfe: Hi all,so I’m moving from Jax to west palm / Jupiter  area In August and I’m curious if there’s any properties (100k-250k) that’ll allow for house hacking.

Yes, annual inspections can be annoying but it's not a big deal.As far as paying a guru to teach you how to do S8.

To give a couple examples: a $200k house in the Midwest annual premium may be $1,200 a year and that same size house in the west might cost only a couple hundred dollars.

There really is no "approval" for the property other than passing semi-annual inspections.