I see it all the time, I did it myself moving from Seattle!

The house hacking will pay dividends for a long time I’m sure.

Asking price, cost of rehab (plus time to complete), ARV, and rent once rehab is complete.Asking price $50k.

Be mindful of the harsh winters and short construction seasons, which can affect project timing.

Hi Benjamin, call three insurance companies and get a quote, start there first.

@Chase AlexanderRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

At first though you want to spend as much as possible, so you're not paying the banker the full nut.Talking with my wife we will drop all of the Bus Benches and the SP aggregator this year, around $16,000. 

Parents ask all the time where to stay. 

At this point you would be the owner and thus responsible for managing the property yourself or hiring a property manager to get the property rented (if it isn't already).Then after an agreed upon period of time (probably after your collection falls off and your credit score improves), then you can refinance the loan with another lender (like a bank, credit union, or HML) and payoff your family member.Thank you so much for your reply! 

We don't have much capital to work with outside the equity in our current home, but should be able to come up with first/last/deposit on a rental without selling.