Also massive cuts to government spending that support recovering economies would not be good for that city.

ALWAYS ensure the contractor walks the property with you or the realtor and a CLEAR scope of work is defined.

This business is cold and cut throat.

I've seen other people in the forum who simply use independent savings accounts but it is not clear to me if that is legal.

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

You can let applicants know they’ve passed the screening and move forward with showing them the property, making it clear that the lease is only finalized after the viewing.

The flooding cuts both ways. 

Utter blasphemy, only "unsophisticated" investors buy in cash.An experienced investor once told me "why use my cash, when I could just default on OPM" I know its not popular thought on BP.. and of course ramp up requires it unless you inherit a ton of dough but as we age out I sure like free and clear and no debt.. just the hassle factor of having to make payments :)

As GPs, we owe it to our partners and stakeholders to keep communication clear, honest, and consistent.

If you do this, make sure you have clear intentions and written terms each party agrees to.