@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

For example, require a minimum FICO score of XXX, gross monthly income X times the rent, and verifiable income for the last X years.

If you have high W2 income, the amount your STR makes (or loses) will be peanuts compared to the tax savings.

Do this enough I guarantee you will get great info, insight, and just maybe an old timer ready to retire out who's open to seeing what they can do to make a deal work.

For those that are familiar with the area; Is there a strong rental market in Augusta to focus on rental income, and if so, which areas should I focus on?  

That said, even with conservative rental income estimates, my living expenses would eventually drop to several hundred dollars less than what I’m currently paying in rent once the house hack starts generating income.I do have cash reserves to weather some rough patches, but the idea of pushing my budget this hard makes me uneasy.

Rental income carries the debt service 100% How did you find this deal and how did you negotiate it?

@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.

I would suggest getting another full-time job for the time being and investing/doing STR on the side until you can fully and comfortably replace the income that you would be receiving from your job.Is your LTR in need of repair?

.: Here's a good guide with links to the law: https://www.tenantresourcecenter.org/earnest_moneyIf you charge $25 and the credit screening costs $10, you can keep the $10 as income.