So is it worth it to house hack a multifamily property?

The labor it takes to renovate 1000 square-foot property is typically the same depending on the finishes whether the house is going to be worth 500 K or 200 K.

But maybe its worth it if you don't have a place to get hard/private money for deals. 

Even if these people know their property is worth more, there is sometimes that one owner that wants the windfall of cash they have coming and will take that low offer. 

A picture is worth a 1000 words and a project we helped someone on in the UP was able to gain support and approval by getting renderings done showing what the finished project would look like.

What is your time worth?

I owe 2 million with all these mortgages, but the properties are worth 5.1 million and rising.

If you can't afford to pay what they're worth, just talk to them, and they might put more effort into reducing the deal cost so you can save money in other ways.

The numbers only look like they work because the calculation is only as accurate as the numbers we plug in. 954.00 for 12 months worth of maintenance on a duplexin Cleveland?

Its worth getting on a mailing list or 2 with your criteria to start getting familiar with areas and prices.