In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

For example, a property in San Diego may lose $500 per month ($6,000 per year) but gain $60,000 per year in value, making it worthwhile to "lose" money each month in exchange for long-term gains.I recommend you start with BiggerPockets Ultimate Beginners Guide (free).

A lot of the popular areas in Charleston proper that are not licensed under the old laws now require the owner to live on the premises to obtain an STR license.

Highly recommend you DM @Samuel Eddinger and buy him lunch to pick his brain!

Depending on how it is done and what guarantees the government offers and requires of the released entities, interest rates could move slightly higher.

Both these properties have mortgages and they both are required to have insurance on them.

.✔️ Your house hack is more than a 2-unit property and requires more oversight.✔️ You’d rather pay for peace of mind and legal compliance.Final ThoughtsIf you’re house hacking a small multi-unit (like a 2- or 3-flat) and are comfortable being hands-on, self-managing can be a great way to save money and learn the business.

If your home is newer, requires little maintenance, and doesn't experience a vacancy for at least 12 months, your $300 cash flow can build up a tidy reserve to get you through.

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

I recommend you hire an attorney for this until you know the process well enough to do it alone.