I checked out that house.

I would tell people today that if you buy a primary residence expect to stay in that home for atleast five years, especially with a FHA loan which has lower down payment as the current forecasts for home appreciation or very low which with closing costs on the buy and sell, it will take several years to have equity in the property and enough to be able to sell, so that is something also to consider.

For instance, if he paid $40,000 to buy a house and sold it for $80,000 with $10,000 down, he could keep $10,000 in reserve  and tap into it to hire attorney, file eviction case , remove defaulting buyer/tenant and continue paying off investor loan (if he used PML to buy that house) while looking for the next buyer to sell it.

@Matthew SamsonThey shouldn't sell it.

Quote from @Daniel Tanasa: Hello Terry, If you're looking to find houses that are in pre-foreclousure you can use a website like www.foreclosure.com and you can get the list of properties and start marketing to them. 

After 20 years as an investor, broker, and lender, I can tell you that house hacking is one of the smartest ways to start.

Planning to sell and 1031 into 2 similar properties in the Columbus, Ohio area in the next 1-2 years.

Investment Info:

Townhouse fix & flip investment.

Purchase price: $260,000

Cash invested: $120,000

Sale price: $535,000

Complete gut, new front and rear walls, all new electric, HVAC, plumbin...

So I have a house I am going to be selling in a couple weeks, but I’m confused about what the agents are saying.  

@Heather Bailey When house hacking with a separate rental unit, ensure proper insurance by obtaining landlord or short-term rental coverage tailored for Airbnb activities, in addition to your primary residence policy.