I used to be against condos because I didn't want to deal with hoa, I believe they are all crooks who steal money and they take away many of your freedoms (you can't park your bike here, why did you scratch the tile here)However, I realized for a noob who doesn't know what the hell he is doing, a condo is much less risky than a house.

They can give you the lay of the land about the risks in your market.

I'd target to house hack once you have a solid financial and get a lay of the land.If you have any questions feel free to reach out via PM or contact info in bio - hope this helps!

Etc. 3) Lay out expectations and responsibilities very clearly and in writing from the beginning.

Thanks for laying out the process step by step for a successful out of state BRRRR.

You treated them as part of your personal finances when you wanted to lay your hands on some money BUT want to think of resulting debt as part of the business and are frustrated that the rents aren't covering that debt.

For example the tenant has been complaining about 2 ceiling tiles that became stained during a rainstorm 2 weeks ago.

Be careful out there....some of the new builds are not comparable to the old builds....many of the newer ones are all siding, no brick, no light fixtures or ceiling fans...just LED recessed lighting...no doorbell, no garage door opener, no attic stairs, one piece tubs, vs tiled baths, no landscaping, no trees, and on and on....they've taken out virtually every single cost.   

Gino Thanks Gino, Hi Matthew, without being able to do separate deeds, the 12 plex would likely be the most cost efficient but you will also need to consider the layout of the overall property, where as two 6 plexes may lay out better and more functional, and therefore attract a higher rent and desirability.

Nothing different than Brandon Turner's "No money down" book I guess...Concepts definitely aren't new and 95% of deals still require some cash, but just like Brandon Turner's book it simply lays out some alternative options to your standard "go get a loan from the bank" buying/selling real estate methods.