Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

Wanted to still be close to family but maintain a cheaper lifestyle, still have strong appreciation, and much better tenant/landlord laws, taxes, etc. 

Make sure to account for property taxes, insurance, and any HOA fees, as those can vary significantly in different markets and impact your cash flow.

However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

Cash and Hard money How did you add value to the deal?

Start by talking to a cross-border CPA and attorney to handle taxes and legal structures properly.

I have always been a believer in getting as much money as possible from the tenant before evicting them to minimize the costs associated with turning a unit because where I work, in an older city with a ton of small multifamilies, those costs can add up even in the best of times.

If you wait for the problem to occur and then try to educate yourself, you will exacerbate the problem and lose more money.2.

Does this strategy utilizing HELOC really work on saving money and paying off mortgages much quicker?  

We were getting a total of $2,700 per month for both of those renters combined.When my wife and I moved out of the house, our first 2 years of owning it we were bleeding money on the home.