.: Hi There, I am calculating the cash on cash return of my house.

And they failed during the housing bubble. 

If you are interested in becoming a landlord or buy and hold investor a great way to get started is by house hacking a multifamily with an owner occupied loan. 

Quote from @Khon Kounbandith: The house was in good condition. 

Hello everyone,I just closed on a house and am exploring the possibility of turning it into a mid-term rental.

Ours is Lucas County Housing (LMH, previously LMHA).

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

In our area, the housing authority does annual inspections to (mostly making sure the landlord is keeping up the units) review the tenant and the landlord. 

Sure, all channels can work, even seller financing or foreclosures, but in my experience, a well-connected agent can uncover hidden gems that often outperform the trickier avenues.Since the post is still fresh, I’m curious.. do you foresee other potential add ons that might elevate the returns even further, like corporate housing partnerships or short-term seasonal leases?

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.