I'd level up with a BRRRR, live-in flip, or house-hack before jumping into a challenging renovation.

Connect with other investors, agents, and property managers to get a feel for the area and learn from their experiences.Are you thinking about house hacking or just straight-up rentals for now?

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

But you also SHOULD have some vacancy and some capex on an 80 year old house. 

Hi Delroy,Congrats on your first house hack—what a great start!

For example, at the start, do you confirm if all persons in the house are aware of your presence, and do you ask if it is OK for you to open bedroom, bathroom and closet doors?

Since we are considering a 4 bedroom house, let's compare it to a 2 bedroom 2 bath duplex each side.  

Congrats on your first house-hacked rental.

Hi,I typically rent my 3-bedroom property through a short-term rental platform, but I was recently contacted by an insurance relocation company looking to place a family in temporary housing while work is done on their home.

No taxes, she got to keep the house and no stress about income.