We have bought loans like this from existing lender as well as refinanced borrowers into a new IO loan. 

in a vast interview process with many steps before allowing someone to move in. a new roomie is an everyone-decision, not a landlord-only decision; if you're expecting people to co-exist in a space together (for longer than just a few months), you have to make sure they all have some things in common, or at minimum have the right expectations in terms of cleanliness and routine habits.someone working the night shift and someone else having a 5am rise-time, or someone who works from home in a call-center job is not going to jive well for example. and someone who doesnt handle conflict well is not going to jive with someone who is brutally honest and up front about issues. happy to go into more deets on how we do things if it will help. this can certainly be lucrative in terms of cash flow, but there are huge mud puddles i have stepped in over the years which i have had to learn to navigate.

Letting your contractors (specifically if you have a GC) what the budget is and that the must notify you if a change order exists (versus they tell you after the work is completed). 

I call it "strategic" leverage, to make it appear cooler. 

Here's one of mine:I acquired a building towards the middle of the year with an existing commercial tenant.

And in America slum housing is not the order of the day it does not exist. 

The foundation was already approved, permitted and finaled years ago for a 3400 sf house, and its solid and I won't be building directly on the overhang edge; but rather back away from the edge a few feet to prevent any load issues all the weight will be on the longer sides of the existing footing.

Accessory Dwelling Units (ADUs) are an increasingly popular way to generate additional rental income on an existing property.

Hard to produce cash flow or break even with that much debt, at that rate.House-hackers, however enjoy certain one time (non-scalable) advantages that should be taken advantage of in the early days: - They can assume pre-existing debt like VA and FHA Loans (rather than take it on Subject-To which is dramatically riskier).- They can rent by the room and self-manage to produce day 1 cash flow.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.

While rates for the new loan will be higher, keeping your existing loan intact on the remaining balance preserves that low-cost debt.Use the equity to purchase properties in higher cash-flow markets while retaining ownership of your Bend property.1031 Exchange:If you do sell, a 1031 exchange allows you to defer capital gains taxes by reinvesting the proceeds into like-kind properties.