They are simply a way for the broker to get an indication of your intentions.

As an LP in syndications your work is very minimal (review the deal up front, read quarterly update).  

This means your children would inherit the properties at their fair market value at the time of your passing, minimizing or eliminating capital gains taxes if they decide to sell.

I would like to get a fairly accurate figures for my modelThanks much Hi Marinta,For a 2 BR unit at Beach Villas @ Ko'olina, here are some expenses:Monthly AOAO Dues:  Approximately $2200/mo and it includes:  Cable TV, Internet Service, Other Common Expenses, Sewer, WaterElectricity:  Varies but I'd estimate $200-$300/mo.Property taxes:  Around $2k/moCleaning:  Around $200 per cleanMaintenance - minimal as units are very well maintained.  

I love the idea of house hacking, as for it is a way to build equity while minimizing expenses. 

You can find properties in the price you indicated but they have historically appreciated less than inflation, they may attract poor tenants, they likely will have poor rent growth    Or house hack local market and need at low as 3.5% but easier at 5%.  

In addition, minimal cosmetic upgrades, painting, new décor and new flooring will add more value relative to its cost.

I know many are hands-off, want to just let management handle it all, but it's a huge investment for our future and we know we've saved so much with minimal involvement.  

I applied for a DSCR loan and the terms include vague language indicating they may be a penalty if paying the loan early.

We originally planned for this to be a mid-term rental, but when my grandma wanted to move, we offered it to her instead for minimal cash flow.