I couldn't be happier to find this post, as my family and I are looking into doing the same thing.

If they do not, they take the risk of never being able to live in the place they actually want when they get much older.Certain cities like NYC and SF is a must if this is where you want to eventually live for the long term.Rents spike and continue getting higher.Every year for the last 2 decades I keep hearing all the excuses.... it's too expensive to buy in NYC.2 decades ago, when I bought my first Investment, a 2 Family in Brooklyn, was $350k.Today, I can sell that investment for $1.5 Million.BUT, instead of being happy that I have made so much money for that one single property.... what makes me more happier is the fact that I live in that Investment now (I moved back in to this Investment Property this year).All of my relatives that lived in Brooklyn but moved out, either never bought or had bought but sold a long time ago..... cannot any longer afford to buy in Brooklyn anymore.Even renting has become incredibly expensive.As another example of this phenomenon, I had a friend, Steve, who lived in Manhattan.We both invested similarly in to two different properties in 2004.I invested in a 4 Unit property with a Purchase Price of $800k in Brooklyn.

I'm on my way to achieving my long term goal, and couldn't be happier at the moment.

If you do it right, you can have higher rents, happier tenants, and lower turnover.

You want the latter for a happier life.

Couldn't be happier!

I am house-hacking right now and could not be happier with the results.If you are interested in the webinar, I also suggest you check out this article by @Scott Trench: http://www.biggerpockets.com/renewsblog/2015/02/21... for an interesting perspective, especially if you live in an expensive city where classic buy and hold properties that make you several hundred dollars in cash flow per month are harder to find.

I have heard many stories like this where appraisals were effected by opinions as well as numbers and as important as the numbers are this can be a major issue in order to get a deal done or to be satisfied with the end result.Hope this helps,Jeff*** Oh, I now plan in late spring to spend about 45K going toward a roof, siding, windows, new porch and HVAC changes and that should double the value of the property and I should be much happier!

I could not be happier with the outcome, look and duribility.

I could not be happier for him and the transaction as a whole.