They are investing in infrastructure, housing, public safety and taking the steps they need to take to attract more jobs. 

Perhaps you have coverage for the replacement value BUT the insurance company when calculating the replacement property uses modern building materials like drywall but your original house had plaster which is much more expensive.

My DP was around $20k and when I sold it I cleared over $200k.Good luck to you and let me know if there's ever anything else you'd like to know about house hacking.

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

on a 100 year old house that rents for $1000 a month that's about to need a new everything - that is spectacularly deficient.  

@Chad Chase - I think funding a fix and flip with a HELOC from a primary house could work.

Hi Linda,Lots of great advice from @Carla Gordon @Brian Schroeder @Jay Thomas Specifically I think it's always smart to check out FF Traveler sear https://www.furnishedfinder.com/housing/New-York/New-York) and Airbnb/VRBO for 30+ days stays to gauge what sort of similar properties are currently out there!

Leverage your construction skills for flips, start with smaller projects to minimize risk, and consider house hacking or long-term rentals for a steady income.

.✅ Eviction History – If a guest has been evicted from long-term housing, it’s a sign of financial instability and potential property damage.If you stay on the platform, consider requiring additional verification for guests, using security deposits, and screening reservations just as you would a long-term tenant.

But I do have some family in Canada that have told me there has been some tax increases to the STR owners to try combat housing issues.