Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

In our area, the housing authority does annual inspections to (mostly making sure the landlord is keeping up the units) review the tenant and the landlord. 

But by and large I like the construction as the sub trades are far more professional than most any one who is doing rehab work on houses..

My goal is to buy a house in the area and house hack the remaining rooms.

If the house is older than 15 years old and n ADU is added, it can become rent controlled.

Good Morning,So I have always dreamed of getting a duplex as my first house and to house hack to get my foot in the door in real estate investing.

Before the house is sold on auction, the owner of the house is in the position to reinstate the loan or pay it off and thus retain a title.

Efficiency Comes from Building the Right TeamOne of the biggest ways we’ve streamlined our business is by bringing everything in-house.

Fannie Mae has a requirement that if you want to use the rental income from the non occupied units, that you MUST have a current housing expense which means you cannot live rent free.

Open houses are typically used to generate leads, not sell houses.