The idea of house hacking a multi-family property is a great way to cover living expenses while building equity.

There's nothing left to cover expenses so you better have deep pockets to cover maintenance, admin, turns, etc.If you think you can quickly improve rents to a point that covers your expenses and pads your pocket a bit, then maybe, IF it hits your return threshold.If you're buying cash, then the mortgage is not a factor. 

and how do i cover this up?

Tenant damage, beyond normal wear and tear, tends to be covered by the deposit.

They have stepped in to cover repairs for me, pressured mngt to do the same, introduced me to other PM teams that would perform better, shared multiple resources with me to assist with the sale of the properties and have spent ample time helping me strategize overall about what to do with these properties.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Might I suggest a separate addendum with regards to the septic system that ALL adults sign and covers what you want them to know.

Ultimately we decided that the cost of doing the cost segregations right now was not beneficial enough since he didn't really have any reason to pay for them and if I would have covered the full cost then the benefit wouldn't have been significant enough to me.That said, I do know there are ways to structure your operating agreement where the depreciation can be distributed to different partners in different ways.

@Noah Schulz what does the lease state about payment and what period the payments cover?

- Insurance policies (some may not cover rent by room)- Friction among tenants regarding common spaces