During this journey, I discovered the world of house flipping and real estate investing in the U.S.

Other than that, does the house you're looking to buy offer the ability to rent a room or level of the house to someone?

I was thinking about pulling 100-150k out of my house (currently owe 150k but worth 600k) to buy something to rent.

This house is in a great area that is growing and has experienced solid appreciation.

Keep it in-house.

If you are concerned about a 1M umbrella that, makes me think that your current policy is way too low for 10 houses.

I have a property on the barrier island that I do not want to list on MLS but I am interested in connecting with realtors or investors who typically sell or buy pocket listings and may be interested in this property. ...

When I did my first house hack, I used a 5% down conventional because I was in a similar situation to you.  

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

The Phoenix real estate market continues to evolve, offering both exciting opportunities and unique challenges for house flippers.