What adds complexity to our plan, is that we live in Minnesota.

I'm from Newburyport and lived in Seaport for a while.

A couple of years ago, I worked with an investor who never updated the contact information for the loan and the Bank call the seller (ex-wife), that day she was mad at her ex-husband and told the bank her ex allowed someone to steal their property from them and they got no money, she was kicked out of her house and there were strange people living there.This could all have been avoided if the investor did this process correct.Get educated, also I do not know your attorney but not many attorneys have the knowledge to do this process correctly. 

I'd highly recommend house hacking in your local market since you're in one of the highest cost of living areas in the US, especially if you're renting currently and planning on staying in the area for 5-10 years.It sounds sexy to go out and invest out of state for your first property.

I would probably work with an attorney in North Carolina (or wherever you live) to do some estate planning since you do have young kids.

The first year was challenging meaning had a tenant but not saving, it was just making my living expenses cheaper.

I've lived in central Texas for 44 years and never have I replaced a roof less than 20 years old.

I currently live in the Bay Area, but I’ve decided to start investing in the Jackson County/MO area.

I used to live in Louisville KY and now I am in Tampa Florida. 

I'm hoping to do an FHA 203(k) within the first half of this year and eventually rent it out after living in it for about 2 years.