@Joshua T.I believe he is making a distinction between "private mortgage insurance" and "mortgage insurance." 

No such thing anymore. yeah, technically, some VA loans are assumable and yeah, technically, some legitimate successor's in interest may be eligible for an assumption however under all scenarios, you must qualify as if you were taking out a new loan (There are very clear distinct extraordinary exceptions).

If they don’t like they flavor of the cake they’re gone two days later.

@April CengThere are lots of programs out there of different types and flavors.   

Maybe you just mean that for example purpose but I just wanted to make the the distinction that cash flow is not equal to rent - mortgage.

To give a little more color on the 506b vs 506c question, that choice will be more about your ability to raise capital, the right flavor of capital to fit your deal, your track record, and how you are viewed as a sponsor, than it is about the ability to publicly solicit.

I know that's a long-winded explanation, but the distinction is important as you look for a home to house hack and determine what will fit your criteria.To answer you questions specifically:Yes, house hacking deals exist where no renovation is required.

Choose your flavor.

My CC bill is due on the 23rd...... my water and garbage is due on the 15th......... my cell is due the 21st....my HOA on the 8th...... my cable the 25th......As long as its every 30 days....written in the lease....... distinct late dates and fees...... who gives a F.......Not all bills are due on the 1st......One "good" inherited tenant....don't overthink it..... its not that big of a deal.

Want to make sure that you make the distinction here.