I'm still in the process of growing my portfolio, but have heard others 1031 all their smaller properties into a larger building and have a property management company manage, OR, set up a seller financing deal with another buyer that gives you the cash flow you desire. 

A lot of people who househack do so as a basis for a strong financial future and to build generational wealth and financial freedom. 

Regardless of the type of lender you work with, building a trusting relationship is crucial.

As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.

With regard to the proximity to the beach, I tend to have a beach distance of 15 min or 5 mile rule, whichever is less. 

Today, I used those proceeds to purchase a 5-unit commercial retail building without coming out of pocket at all.

So, for a $2,500 rent with a 3x income rule, you’d expect their combined gross income to be $7,500/month.As for utilities being included in the rent, some landlords in NYC do lower the income requirement slightly (e.g., to 2.5x or 2.75x) since tenants won’t have additional out-of-pocket utility costs.

I’ve done a couple of fix and flips but I’m looking to build a rental portfolio.

This reduces your housing payment and helps you build equity. 

@Dennis KnappJ Scotts book on estimating rehab costs is a great start. https://store.biggerpockets.com/products/the-book-on-estimat...Here is a "general" rule of thumb for my market in Jacksonville, FL.