Since you’re already networking and have some good realtor contacts, focus on narrowing down your investment strategy (like buy-and-hold or house hacking) and target markets with solid cash flow potential.

Originally posted by @Dominic Battaglia:Going to Windsor this weekend to look at properties man, it looks like a great place with potential!  

Do you have a step by step list when looking at the potential house?

He's helping me to narrow down a potential multi-family property that I will be house hacking, (the deadline I have given myself to be in it is May).

**Letter of Intent (LOI)**: Though not legally binding, an LOI can outline the basic terms and conditions of a potential deal before the final contracts are drawn up, ensuring that all parties are on the same page.It's always wise to consult with a real estate attorney to ensure that your contracts comply with local laws and protect your interests.

And What other conditions/terms/costs do you calculate when underwriting the potential of a deal?

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

@Marc Anthony MacielIf you're diving into house hacking and multifamily investing in Southern California, you’ll want to focus on markets like Riverside, San Bernardino, Ontario, and Long Beach—areas with strong rental demand and solid appreciation potential.

However, anything that impacts functionality like plumbing, HVAC, or safety issues should be handled before listing to avoid turning off potential renters/buyers.If you’re re planning to lease it, tenants will expect everything to be move-in ready before signing.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.