I am a complete rookie to the real estate scene, I am looking to house hack for my first residence out of college.

We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

Jasper - the Pat Aboukhaled investor teamTurning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

I don't think people use binders in commercial real estate, but maybe that can be used before going to contract?

I can tell you that being around new construction the past 12 years, I would say 1/4 of the projects we have been apart from residential to commercial will experience delays to MFGs out of stock, HOAs changing their specs, Cities changing their specs, Weather 2-3Xs budgeted rain delays, Subcontractor injuries and death.....Then Hurricane Harvey in Houston are.....WOAH  major delays...I have seen it.We are happy to be providing funding to DCGI's BTR community members, many have gotten their applications in already and look forward to helping the rest of yall accomplish your real estate goals. 

This comes from a 2017 City document, but it seems to be current.http://www2.oaklandnet.com/oakca1/groups/ceda/documents/report/oak050966.pdfA real pity, with the severe lack of housing in Oakland. 

Pretty standard and we've definitely done it in the past with a lot of real estate agents we work with that invest. 

One way would be to get the real estate under contract, then bring an experienced partner in who also has access to capital, and stay in the deal as a minority equity partner.

Is this the best place to invest in real estate?

Some investors thrive in these situations, while others prefer clearer paths to ROI.Before proceeding, consult with a real estate attorney and conduct a title search to uncover any surprises.