@Sebastian Nadal Congratulations on your first purchase and how exciting that you want to start house hacking!

Also, our market has many First time home buyers, so to fix&flip we needed contractors which required much more $$.

Thanks for helping me.Regarding my first deal, I don't have any money at all.

I used a heloc to purchase the first 4 rentals, so $155k of dept is wrapped up In  that until I refinance each property which have already appreciated extremely quickly given the current market. 

However, they approach financial health from different angles.The 50% Rule is a quick estimate that suggests operating expenses (excluding mortgage principal and interest) will roughly equal 50% of the property's gross income.The DSCR is a more precise calculation (Net Operating Income / Total Debt Service) that determines if a property generates enough income to cover its debt obligations.Deal example:- Class C middle class neighborhood- 4bd / 2ba single family house- ARV: 190k- Purchase: 105k- Rehab: 35k- Market rent: $1,400-1,525- Section 8: $1,475- Property manager: 10%- Taxes: 125 month- Insurance $1250 yr- HOA: $55 month- purchased and rehabbed with all cash.

I paid the first $5K but started having second thoughts because of high vacancy rates in the area.

This is my way of not being forced to rent to the first qualifying party that gets a toe in the door.

There is no class action suit at this point.

My goal is to purchase my first property between now and mid to late 2025.

Hi @Justin Snead, I would say just make sure wherever you take the pre-licensing class is IDFPR approved.