This is because the envelope of the home was not built to modern standards and making functional living area can be challenging unless you have a lot of real estate to work with.

Challenges?

Also, I’ve purchased occupied foreclosures in Connecticut and have managed the eviction process, which has been challenging but manageable.

I figure the upside to the rental scenario is, of course, investing in multiple properties, while a downside would be having to most likely get a conventional loan on the second house with 20+% down and proof of sufficient enough financial reserves to handle two mortgages. 

The bigger companies like Apple, Google, Microsoft, etc, use RMC's to handle their relocations and they are very very difficult to pierce.

Painting walls, updating fixtures, or handling minor repairs yourself can save thousands upfront.Consider Your Exit Strategy: You’ve got the right idea;house hack for 1-2 years, then convert the property into a long-term rental.

I have a client in KC that does this for one of his properties where he enters into a "master lease" with the organization, so the org pays the rent to him (less risk to my client), and then the org handles getting the rent money from the tenants/their clients.

What are the potential pitfalls or challenges in launching and running a title company?

Most of the time is spent answering guest inquiries, scheduling cleanings, and handling the occasional issue that pops up.

Some lenders offer this option, while others might prefer to handle each property individually.It will come down to the lender’s criteria, such as combined value, rental income (if applicable), and your financial profile.