The other lesson was stop the bleeding quickly, adjust your strategy and move on.

I think a slow bleed from inflation like the 70s (just not as bad) seems more likely.

Not like you can miss that much damage especially if they have properties themselves. 24 hour notice go inside and verify.. also 550 rent is not enough gross income to sustain a SFR you will lose money on this deal over time it will be a slow bleed.

In many locations $35,000 might start you out, in others more.For instance you could "move in with your parents and pocket 100% of your take home pay for a year".You need 20% of the price, plus closing costs, plus some cash reserves, a credit score acceptable to a lender and a lender pre-approval to buy a rental.You need to know how to choose a rental where you will not be upside down = bleeding cash to own it.If you buy a duplex and live in it, there are FHA loans for 3.5% down.If you buy a SFH and live in it for (I think) 1 year, it's also 3.5% down.The downside to the 3.5% loans is you must pay monthly mortgage insurance, meaning you have to be very selective in your purchase price vs rent due to paying the extra fee every month.You could also join the military and when you get out use 0% down veteran financing to start out.Good Luck!

You want to cover up the smoke smell so it doesn't bleed back through.

And this is in supposedly bleeding-heart Pennsylvania.Trail cameras are great.

Skip 9 months forward, I realized that all of my money is tied elsewhere and the lot is simply sitting there bleeding tax money.I need advice on how to move forward.

Just for completeness, I spoke with @Grant Schroeder, and he informed me that a house hack is likely not doable in my situation, largely stemming from some misconceptions that I had.First, I'm aware that a conventional loan on a primary residence can be acquired for 5% down, but this only applies to a single family swelling, not a 2-, 3-, or 4-plex.

They are vendors and if you go broke well thats "a tough break for a swell guy."

If there are other options to help me get in front of this situation before the credit card interest bleeds me out I would appreciate that feedback as well.