And that's not A, B, C or D - that is too general. 

If you can show income on a Schedule C or Schedule E, use that to qualify for a conventional loan; it doesn't have to be from a W-2 salary.You could also pay cash and then finance it when you have the documentation together.

Granite counter tops and mosaic backsplash if an A or B rental, laminate counter tops and porcelain backsplash if C or D.

Great way to analyze if it makes sense to rent/buy.I love the idea of house hacking - it makes so much sense, and am trying to find ways to make it work, but in my local market (DFW area) it is extremely difficult to find affordable small MFRs to perform this; unless you buy in C or D areas.Like a subpar duplex that needs at least 25-35k rehabs in B neighborhoods are selling for $400k+ and barely cashflows, if at all.

Expect to spend around $100k plus needed rehab of $20-$40k to get places in C or better areas. 

You can not bet on your contractor being reliable.

I am flexible on location and would love to stay in a c or better neighborhood.

Most of the properties that could be used are typically in Class C or D locations (not good to live in).

I self-manage these properties as these are generally, not problem properties and easy to manage)5% for maintenance and repairs5% for reservesIf you have a "C" or "D" area, factor in:10% for vacancy8-10% for PM10% for maintenance and repairs10% for reservesFor "war zones" or what I call "F" areas, factor in:10% for vacancy10-12% for PM15% for maintenance and repairs10% for reserves

I am extremely humbled to meet them but am not telling you to bet on replicating their exact speed and results.