Once you've pinpointed your objectives, it's important to assess your financial situation.

I know this post is a couple years old but i would say it depends on the situation.

My local real estate attorney made significant changes to the state-specific lease I originally had to accommodate the unique situation of house-hacking and county laws.

Of course you need to see verifiable income that is adequate for the situation, but the old posts of 4 and 5X rent amount?

My situation isn’t great but I’m trying my best to dig myself out of this hole and I think REI might be the answer I’m looking for which is why I’m trying to go all in on it while I’m young!

@Whitney Bivins if you exit this situation what makes you think you won’t end up in a similar spot a year from now?

There might even be incentives to rent to long-term tenants, depending on your situation.

That sounds like an ideal situation versus doing a full fix and flip for your first deal. 

Hi Everyone,I’m a newbie investor weighing some key decisions and would like to know how an experienced investor might approach this situation to maximize value and cash flow.

Some people don't have financial situation, nor have the bookkeeping to track or maintain it.Again, I personally find it very stressful just thinking about living that way for the life of the loan keeping the lowest daily balance possible.