If you can own the property and pay a similar amount for a similar lifestyle, it's probably a good decision (assuming you can afford it if it doesn't go perfectly, needs repairs, etc.)With house hacking the rule of thumb is: The more uncomfortable you're willing to live, the better the numbers will be.

As I understand it 100% deduction on expenses that are soley related to the business or the rented unit, 50% deduction on expenses that relate to the general property as a whole ( mortgage interest, insurance premiums, common area repair expenses).

I hope the people impacted by these events get some assistance.  

If a fish tank is in an upstairs apartment, a leak would cause damage to the downstairs apartment and double your repair costs (or more).

@Alan (and everyone that assisted),Thanks for sharing that insight—it’s really helpful as I continue learning the ins and outs of real estate investing.

Pretty much you buy a property, then quickly sell it to another buyer without making any significant improvements or repairs.

Thank you for your assistance.

Repairing well $16000.

I’m also an investor, 3 doors right now, but looking to hopefully get more doors through multi-family units.Looking to connect with other investors if I can be of assistance and/or agents to share experiences! 

**Lease and HAP Contract**: Once the property passes inspection, you can sign the lease with your tenant, and HUD will set up a Housing Assistance Payment (HAP) contract with you to begin rent payments.