if you are house hacking you want to take in consideration your exit.. so 70% rule is good for flipping but your situation may be different for instanceIf i found a duplex in a up coming downtown area and was able to buy it for 60k - value 100k but it needed 20k of work then that would be a 80% purchase, but I live in it and I rent the other side out for 1250.mnth well I NET 100$ per monthI then fix the place up myself over 2 years of living in it which only cost me time and material but material only cost 2400$ total well that is the sum of my NET income fo 100$ over 24 months so I am 0 out of pocket then after 3 years the area explodes and I can now refinance my property at a value of 140k even at 70% refi I still close out my 60k initial investment and profit the difference which would be 38k plus the extra 1200 for the 1 year of rents after then raise rents. move out and use my 40k to invest again while keeping the property and now cashflowing on it by 1300$/mnth net profit.. you see it can be done.. this scenario is just one of many

It was two-fold.1) I wanted to purchase a property but was working real estate in Manhattan at the time and a decent condo there was 1M+ and unaffordable. 2) I was seeing my hometown of Palm Beach Gardens, FL explode.

Houston being a better value, I wonder if that will be one of the next markets to explode at some point in the future

Regarding item #2, yes, JB Weld could fix it but everyone will see it when it opens.What I’ve done is Google the model number of the fridge to get an exploded diagram of the refrigerator.

I like Brighton Park a lot and see a ton of upside as nearby areas mckinley park/bridgeport have exploded in price appreciation.

Buy in Chelsea, Everett and Cambridge as rents will explode there.Interestingly enough most econ 101 text books use the Boston/Cambridge rent control situation of the past to illustrate this very point.

Duluth has exploded, it's nuts to see the size of that area now.

Bridgeville area is going to continue to explode with all of the development going on there.

Forming a team with a local contractor, lender, and someone who can find you deals will explode your business.

Once you add up all those salaries, even at minimum wage, your break even cost starts to explode.