House hacking is using an owner occupant loan to get into a home or a 2-4 unit property.

I feel like I've dealt with every time crazy situation there is here in Chicago with squatters, evictions, drug dealers, etc., and I still love Cook County because I have a solid team and underwrite deals properly.I think @Paul De Luca nailed it on the head, though - it seems like you are quite risk-adverse, so maybe given your risk tolerance, it's not the best idea, but if it were me, I would not think twice about it, and find a rock start property manager who knows exactly how to vet tenants.

If you’re using financing, this situation might also influence lender decisions.I have many rentals in Jacksonville FL and have had to evict three tenants.

No Fraud.Thanks for your 'deep-dive' into Victor's situation. 

We've utilized the VA loan for our current home, and this strategy has worked well so far.

@James JeffersonHi James,To buy out the property you need to probably apply for a loan through any lender.  

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

I ran my own custom proforma for a bank loan using the asking price that would generate a cap rate over 10% and CoC just under 20%.

Check out this podcast from BP, with Dave Meyer and Chris Clothier from Nov.we work with clients all the time in your situation and can help strategize your portfolio to reach your 10-15 year goals!

Yeah my goal is around 30% but its hard to achieve, especially using a hard money loan.