I’ve personally house hacked in the Irving park neighborhood in Chicago with a multifamily so not completely relatable experience to what you’re looking to do but hopefully can provide a few insights.If you go with the suburbs in a SFH, you could rent by the room and presumably increase cash flow.

But for me I'd rather be in a growth area than a declining area, but thats just me.

Especially in a case where an umbrella policy wouldn’t have served the same purpose. 

I have identified properties in a particular area I want to target and want to reach out to the property owner to see if they would sell.

The property was in a high demand location, so it made no sense that it would be half empty. 

You're in a place that some of us could only wish for, myself especially, "getting started sooner".Keep grinding, you got this!

Things that cause delays are many sponsors maybe 1-3 people and they outsource their investor relations so the first person you contact is not a member of the company but a call servicePersonally I would not invest in a fund / syndication that has a call service on IR side as if things go wrong you will never hear from them.

Highly unlikely except in a probate or estate type of scenario.

In today's world you need to be about 28-35% down on properties to be gross cash flow positive, closer to 40-42% to be truly net cash flow positive(i.e 50% of your income goes to maintaining the property, other 50% is actually profit).My recommendation is to buy ideally a 4/3 SFR that's a starter-friendly one in a good area, and rent it out by the room.

asc_refurl=https%253A%2...I don't really have an opinion on this but it appears to be good quality for simple storage in a bedroom.