The mortgage on the property is still fairly high with a balance of  $285k.

Property: SFR in Ontario, CaliforniaRent $3200Mortgage Payment (2.875% rate) - $2661.06 + $185 HOA = $2846Mortgage Balance - $456k Estimated Value - $700k(3 bed/2 bath)

Assuming a required rate of return of 5% (comparable to high-yield savings or a CD), the deal would need to yield a total CoC return of 10% (since everything is split 50/50).I'm stuck because while playing around with numbers, achieving this return seems improbable if not unrealistic.

This can make it challenging to achieve strong cash flow.

With the right approach and a bit of hard work, house hacking can be a smart way to build your real estate portfolio and achieve financial freedom.

A refinance that only pays off the existing balance (plus any costs) is considered a rate and term refinance and should offer lower mortgage rates and costs due to simplicity.

My partner and I use the subject to language from the AIR CRE forms as an addendum to the REPC - UtahSubject to language for purchase offer - Utah REPCBuyer(s) shall take title to the Property subject to the following existing deed(s) of trust securing the existing promissory note(s):(i) An Existing Note (“First Note”) with an unpaid balance as of the Closing of approximately:Said First Note is payable at $_____________ per month,Including interest at the rate of _________ per annum until paid (and/or the entire unpaid balance is due on ___________ (date).

I am a featured agent in Memphis, TN and I am helping many of my clients achieve purchase prices like this all the time!

This seems unnecessary currently.I am looking for more security but with a good balance of ease of use.

Balancing these factors is crucial in making your decision.