Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

I haven't seen prices drop too dramatically but I have seen homes in my buy box sitting on the market longer and some lowering prices. 

This was my first deal, and house hacking made the most sense because it lowered the threshold for risk in my mind.

However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

Since your dad is a contractor with access to affordable labor, the renovation costs could be lower than average.

For example, California has an $800 minimum franchise tax, while other states have lower fees or no franchise tax at all.

.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.

Roth IRA contributions can be withdrawn tax-free, but earnings may be subject to income tax and penalties unless the account has been held for five years and you're 59½ or older.Instead, consider rolling over your IRA into a solo 401(k) if you're self-employed, allowing you to borrow up to $50,000 or 50% of the account balance, whichever is lower.

But as far monthly payment you could easily buy a house in a cheaper location have less roommates and the same monthly payment or the same number of roommates and a lower monthly payment.