Have a business conversation with a tenant, send them an email summary of the conversation and ask them to confirm you got it correct.

Correct me if I am wrong.

What would you say is the correct way to gauge if your income is solid enough to invest in a house hack?

Bob  thats not correct Mike was self promoting for years before he even got a partner.but the OP if he wish's Mike only charges 15k to be mentored how to do a sub to in what he believes is the correct or safest way..

@River Sava - correction - it "was" a hot market to invest in until 2024. 

As long as everything is recorded correctly and all documentation is done, there are ways to do this. 

I wouldn't even bother with major cities given the ratios but you likely will get better rental stability pending on asset class but in general deep pocket investors like larger cities for its demand and stability in order to wealth preserve vs cash flow..Investors who want cash flow seek 2nd tier markets..To clarify 5) you meant negative cash flow and not negative cap rate correct?

Are you both on the mortgage or how do you ensure you get the correct % of ownership? 

You’re absolutely correct—at REI Nation, we purchase properties in our name, handle complete renovations, and then present them to investors once the work is finished.

I think my hypothesis is proving correct as many of them right now are in litigation due to the way they managed their syndications.