THEN, I plan to purchase the second home using a FHA or conventional loan (3%-5% down), for which I will likely pay the monthly cost out-of-pocket, maybe with some rental income support if it is a duplex.My concern is, I do not want to spend my savings or weigh down my debt-to-income ratio so much so that I cannot qualify for and pay the down payment and closing for the lending on the second home.Questions: - With the first home being multi-family, 75% of the rental income (or potential rental income initially) will relatively either maintain or boost my debt-to-income ratio from lenders' perspectives, right? 

Underpriced, underperforming, value add, 20 units, cash flow potential, low risk How did you find this deal and how did you negotiate it?

Not only does it have excellent potential as a house hack, but it also offers significant upside for a live-in flip.

My out-of-state clients love it here because you can still find cash flowing deals hitting the 1% rule with lots of appreciation potential.

A lot of qualifying questions for any potential tenant.Having said the above, I ask for some "standard" things, such as the names of everyone who'll be living at the unit.

The city offers a mix of high appreciation potential in certain areas and solid cash flow in others.

The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

Expand your network, educate potential investors, and leverage social media to increase your reach and influence.

Happy you joined the party.. how soon do you plan to start crunching numbers on a potential deal?