Heres the numbers:  Borrower(s)Subject PropertyRate Not Locked 9/30/2024 Sales PriceDown PaymentLoan Amount30 Year FixedContract DepositSeller ConcessionNMLS#  $670,000.00$167,500.00$502,500.007.000% $0.00$0.00  Bank Origination Charges Estimated Title / County / State ChargesOrigination Points % $ - Owner's Title Insurance $ 4,415.00Discount Points % 1.500% $ 7,537.50 Lender's Title Insurance $ - Underwriting Fee Title Search $ - Appraisal Fee $ 650.00 Title Services $ - Credit Report Services (1) $ 299.00 Alta 8.1 $ - MERS Fee $ 25.00 Recording & Transfer $ - Flood Certification $ 8.00 Notary $ - Tax Service $ 85.00 Settement Fee $ - VOE Fee $ 150.00 Total $ 4,415.00 Total $ 8,254.50 Prepaid Interest / Items Potential Additional CostsPer Diem Interest 15 Days $ 1,465.63 Rental 1007 $ 250.00Home Insurance $ 1,800.00 New Survey (if applicable) $ -Flood Insurance $ - 2nd Appraisal / Reinspection $ - Total $ 3,265.63 Total $ 250.00 Escrow and/or Property Taxes Due Total Estimated Monthly PaymentsTotal Insurance(s) 3 Months $ 450.00 Principle and Interest $ 3,343.15Property Taxes 4 Months $ 2,868.64 Total Property Taxes $ 717.16Total $ 3,318.64 Total Insurance(s) $ 150.00 HOA / Maintenance $ - Monthly PMI $ - Total $ 4,210.31Total Estimated CostsEstimated Closing Costs $ 12,919.50 Estimated Escrow Prepaids $ 6,584.27 Estimated Funds To Closing $ 187,003.77

It's also wise to check references from previous landlords to understand their payment history and behavior as a tenant.Once all the information checks out, you can proceed to signing the lease and collecting the security deposit and first month’s rent.Good Luck!

House hacking is the most powerful way to get started in real estate investing, and it sets you up for success because you learn so many things: dealing with contractors, how to screen tenants, lease negotiation, but most importantly, your goal should be to reduce or eliminate your housing cost, and there are a lot of ways to do with house hacking depending on your flexibility with strategy: rent by room, Section 8, mid-term rental, STR, etc, and you can combine multiple strategies too. 

I see they offer leasing and guaranteed rent as well as overall property management.

We have everything you need to manage ready in a can: photography, advertising, application, leases, rules and regulations, smoke detector notices and all other forms you need and background check (we do this a lot).

Leased Car ($2600 Fee for Termination)If you already have approval to terminate the lease, provide your lender with a copy of the termination agreement and receipt of payment (once it's processed).

I would assume a good lease for each bedroom is key, but could be wrong.

Any suggestions as to a process for "terminating" the lease or giving notice to vacate? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.