A few questions below:Are renters in general bad at managing finances?

Thank you  Using a LOC on your primary residence can work well for flips if the terms are favorable and you’re confident in managing projects efficiently.

@Hamidou Keita House hacking by converting a single-family to a duplex is a smart strategy, but requires careful planning.Pros: Offset living expenses, higher rental income, increased equity.Cons: Significant conversion costs (permits, construction), zoning restrictions, living in a construction zone, managing two tenants.Key Considerations:Feasibility: Check local zoning and permitting.Costs: Get detailed construction estimates.Market Analysis: Ensure post-conversion rent covers expenses and there's rental demand.Resources: BiggerPockets forums, local contractors, real estate agents.Have you researched your target property's conversion potential?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Easier to do without a property manager Cons1.

Quote from @Itay Heled: I manage nearly 400 rentals and demand is high.

The inventory is still a little low in Northern NJ, but I've managed to assist many people from the BP community with finding deals that work for them. 

Hi Jose, yes I specialize in STR/MTR management, and I have a vast network on military renters & I work with placement agents!

This is a great strategy to use for beginners who want to get a foot in the door of investing while also learning crucial skills just as tenant management. 

This will be my first rental property and will be remotely managed.