It was 20% down  Like I mentioned on my comment above, it is possible to still finance this property with a non-traditional lender, especially when you are putting 20% down.

It's important to consult with an attorney or an accountant to determine whether an LLC is the right choice for your specific situation.You can reach out to me and my team who can guide you through the process and help you navigate any challenges that may arise.

If it's not feasible due to circumstances I suppose I'll have to adjust my situation (find weekend job, move back to NJ with parents, move to a different state with, etc.)All responses are appreciated, and I am absolutely open to chatting on the phone by the way.My view on house hacking is it can be a great tool to buy a house you could not  otherwise afford, but it shouldn’t be a goal in it of itself if that makes sense and that’s not to discourage you from investing just there are alternatives such as the stock market. so I’d start by asking where you want to live, do you want to own a single family home or does it make more sense to rent in a more interesting neighborhood like Arlington, Alexandria, that’s gonna be a personal choice, Will your monthly payment actually be less than renting/how many people do you need to get in the house to afford that?

David,Yes, investing out of state can be a wise choice especially if you live in a State like CA, NY, NJ, CT where home prices are over priced and taxes are brutally high.

Hi @Alan Asriants,I agree that the traditional BRRRR strategy is ineffective in today’s market.

be smart make the right choice

The water heater and furnaces are all in the basement so it looks like I don't have much choice.

Too many varying opinions with sound logic on both sides in this forum regarding traditional velocity banking.First position HELOC ... 

This gave us peace of mind and ensured that any unexpected incidents wouldn't result in major financial setbacks.These two choices have played a crucial role in optimizing our STR strategy, balancing profitability and protection.

The seller is open to seller financing, which presents an incredible opportunity to grow without traditional bank financing.