I would get more details on the numbers and go through it with an experienced investor. 23% expense ratio is laughable for any apartment building, let alone an old class c product.

I’m hoping that once I do have enough saved I can buy the second property and continue house hacking.Something like this: https://www.realtor.com/realestateandhomes-detail/2574-W-Fai...? 

Without going into too much detail, my current situation stems from selling a previous company via partial owner financing, only for the new owner to default on the purchase, leaving me in this position.For traditional financing, I understand I’ll need at least one, if not two, years of solid credit history, tax filings, and other financial documentation.

I am not privy to the details of that from their perspective, but I would hesitate to assume the policies are the same; I don't believe they are.

DSCR loans can be helpful for the rentals you have depending on the details.

Without too much detail I had to quit my W2 job 2 years ago to care for my disabled son and my wife is still working.

Can someone explain the details of selling a house to a child?

Feel free to connect with me and send me a message if you'd like more details.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Sit down and hash out every detail and put it in writing.