@Sean DillonAt 18, you're in a prime position to start building wealth with low expenses and plenty of time to scale.

The low down payment house hack is the way to go.

We have excellent credit and cash capital.

im in Orange County CA and there is a huge market here for room by room rentals here. i've been doing this for quite some time (over a decade now), and it certainly has its pro's and cons. my advice if you go about this is make sure you do proper vetting before moving someone in... not only for financials/ credit-worthiness, but also for temperament and expectations in a co-living space. we ask a lot of questions like "how do you handle conflict?"

5C's of credit are a good framework to understand the fundamentals.

I currently have around 20k cash for a down payment and that is steadily increasing so I want to pull the trigger soon.I'm interested in Fort Wayne for a few reasons:- I have some family in the area (they won't be involved, but have some general knowledge of the area)- Decent schools- Low crime- Airport- Low pricesAny advice or connections are welcome as I am completely new to this.

When you say that you will "screen" prior to showing, does that mean a full application with backrgound and credit checks?

You also need the operating cash to do rehab.I say this because you mention FHA and low money.

HELOCs on investment properties can be tricky since many traditional banks don’t offer them, but some lenders, and some local credit unions might be worth checking out.

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage?