If you’re just starting or want to minimize risk, house hacking is a killer move—grab a duplex, live in one unit, rent the other, and let it pay down your mortgage while you scale up.

I'm trying to get a mortgage, but it's entirely possible that the mortgage might not cover 100% of the price of the house.

The sale price will most likely be around $500,000 and the mortgage is currently about $200,000.I plan on using the profits (let’s just say $300,000) to build an ADU on property that my family owns in Central Oregon.

.- This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

They may take an interest.Some of those people might actually be more aggressive about enforcing existing laws.

The foundation was already approved, permitted and finaled years ago for a 3400 sf house, and its solid and I won't be building directly on the overhang edge; but rather back away from the edge a few feet to prevent any load issues all the weight will be on the longer sides of the existing footing.

I also have a $50k line of credit I can tap into when needed that will grow as I keep growing the business.Right now my rent is about $1700 where I've been staying for over a year, but really wanting to trade that for a mortgage and start building that equity.

Each lot is assessed with the taxes to cover such cost and they are paid monthly for the first 15 (give or take) years as part of your mortgage payment.

View it as a business expense like you do the mortgage. 

As far as purchase price - I find older homes you can get a much better price on and rehab and still be slightly under market value - and the rent will support the mortgage and expenses.