Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

If you have time to secure this loan through a bank, I would strongly consider it. 

Issue a 1099-INT for interest paid over $10 annually, and ensure family members report the income.

We need to ensure that residents are not negatively impacted when selling properties.

It also means doing your due diligence to ensure the property you pick up actually makes financial sense, not just in year one but down the line.

Additionally, ensure that any potential investment aligns with your long-term plans and aspirations.

And when it comes to your due diligence, how do you ensure you’re accounting for unpredictable rehab costs or market shifts?

I think one thing people need to understand is in the US the ten-year treasury is competing against the mortgage-backed securities and while the ten-year is impacted by interest rates, its not the only factor and amount of spending we do also impacts it.they auctioned off 30-year today and it went really bad as no one wants our long-term debt and it sold for 4.3%10-year notes recently traded for 3.96% but again very weak demand - which I believe means yield prices may continue to move up, which means interest rates are not going down dramatically anytime soon - so that fed 25 or 50bps drop is not going to have your mortgage lender dropping rates suddenly the next day...Now the spread between the 10 yr and 30yr mortgages historically is closer to 1.75 but recently has been between 2-3% due to yield curve.

Leveraging the equity from your house hack for future investments, whether in STRs or larger multi-family properties, is a strategic plan, but ensure your initial property performs well before taking on bigger projects like flipping.

I recommend requesting a review or a new appraisal that compares your property to similar multifamily properties in the area to ensure a more accurate valuation.