If you want I would love to talk to significant others about the benefits and drawbacks of multi-unit house hacking. remember that biggest advantage of going from FHA to Conv. is the elimination of M.I. and the ability to transfer the ownership into an LLC, that later of which is not possible with an FHA.

What would be the drawback of wholesaling?

I know the drawbacks of such a move, losing out on classroom interaction, possible networking opportunity and many first hand experiences, however, given its price...

The only drawback is that in the Lease deal with the Property Manager, I agreed to use them to represent them to sell.

They are considering doing owner financing and we have been talking about possible benefits or drawback for each of us.

Shamar, that sounds like a good plan, the only thing that may be a drawback is how the bank may look at it, if you are not making enough in the rental to cover the mortgage and equity loan ( maybe see if its worth refinance the mortgage and pull equity out, under one mortgage payment, if rate is cheaper). you would have to make enough in their eyes to cover your new mortgage plus be able to carry part of the condo if you do not have a tenant.

Condos have their benefits and drawbacks.

Just my .02 Tried all that :) the house bring on a busy road is the main drawback.

Drawback is you could potentially be replacing systems that could have gone several more years.

The only drawback to not doing a cash purchase is I could tie the home up for a month and have it fall through.