I ran some of your numbers, assumed rent of $1,290/unit and that you pay cash for the rehab costs.

Purchase price: $690,000 Cash invested: $172,500 Took a gamble on a larger single family home in an up and coming master planned community.

It’s also worth considering a multi-family property for your first deal since it can help with cash flow.

I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this.

Any positive cash flow should go towards paying off debt.

They require all cash to buy so the people there have money.

And not knowing their numbers also makes it next to impossible to know if you have a bad PM that's eating into your cash flow as well (Like Vacasa charging $800-1000 a month for elecrtic on a 4/3, 2000sqft house with a pool). 

That said, even with conservative rental income estimates, my living expenses would eventually drop to several hundred dollars less than what I’m currently paying in rent once the house hack starts generating income.I do have cash reserves to weather some rough patches, but the idea of pushing my budget this hard makes me uneasy.

But if you have to jump through hoops or spend a significant amount of money to put it in might not be worth it. 

Welcome to the community and be ready for a huge amount of information at your finger tips.