Its so much to talk about and thereś so many moving parts but this is some food for thougtht. 

I have a list of 1/2 dozen properties in “cool areas” that will cashflow out of the box, and have a vacant unit, that I just prepared for a client looking for something similar.Let me know if you need contractor recs - my contractor is an investor as well, and will help maximize your budget/impact.

Food to know.

You'll be well-prepared to locate and fund your next multi-family property for house hacking if you apply these tactics and are persistent.Good luck!

My goal is to learn from your experience and prepare myself for my own investing journey.

YOU need to be prepared to close if you do not sell it.  

We have come up with an operating agreement but upon research found that it's better to prepare operating agreement from an attorney.

REPS hours.4) Getting ready to rent the property pre-close but post-contract:  Understanding HOA rules and incorporating them into proforma lease agreements; preparing and posting rental advertisements; shopping for, selecting, and purchasing furnishings to equip the house to be put on the rental market.  

@Nate  Do you mind sharing the details of the attorney you used for the lease preparation? 

Be prepared to adjust the price if necessary to attract more interest.Prompt communication: Respond to inquiries and messages from potential renters in a timely and professional manner.