If I could re-frame, and put myself in your shoes, I would look for a money partner to help secure rehab properties. 

I know some common strategies include:WholesalingSeller FinancingHouse HackingJoint VenturesPrivate/Hard Money LendingFor those who’ve been in my shoes, what worked for you?

It does appear that we need more information about actual ability to pay the rent but in reading between the lines it appears that there will be two more adults living in the property, so we have more information to gather.

Generally speaking if I was in your shoes, I would hold the property. 

What would you do in my shoes?

We work with people in your shoes all the time. 

Essentially, this investment appears to double the initial capital over five years.However, I’ve been noticing an increasing number of these properties being listed for sale.

Just need to spend a year somewhere I may have no desire to live.Hybrid Plan:Keep researching out-of-state markets and act if a great deal appears.Move back to LA, live in Airbnbs in to get a feel for neighborhoods (open to suggestions), and house hack once I find a deal.Would love to hear from those who’ve house-hacked in LA or NYC or started with out-of-state rentals—what would you do in my shoes?

@Robert B Azimi If I'm in your shoes I'm meeting with the tenant in person to figure out what's going on.

The majority of homes are owned by homeowners not investors so they fail to put themselves in the shoes of a homeowner or look at data from the standpoint of being in the minority.