The numbers I'll provide are just an example of a random heat pump, and the actual performance can vary slightly depending on the manufacturer, design, and the components they are combined with.

The layout across the top of the image is garage, dining room, hall, closet, and two bedrooms.  

It wasn't enough for me to know a lot; I had to show off my skills and become the expert on passive income and alternative investing.To do this, I used a number of strategies that helped me build my image.

Ex (random numbers pulled out of thin air)$100k purchase $160k ARV$30k reno but $20k at cost$15k holding costsTotal Cost:$145k cost or $135k with contractorWith the contractor at cost, I have an extra $10k of margin where I don't lose money, but obviously not ideal for the contractor since they would make less.I think a good way to price it would be the equity would equal your profit if you did a fee construction at slightly below the projected ARV, and slightly below the projected hold time.

then when you graduate, house hack again.there's no point in buying a random rental thousands of miles away instead of house hacking. 

I make solid income, but if it all goes out randomly I don’t want to be in a pickle for bills.I’m working on sorting how much I need to have in reserve savings and then how much a month is viable to put towards a property.Quote from @Chris Seveney: @Ben StanleyI would assume you get zero revenue from anyone else and be able to afford the home yourself by getting qualified at a local lenderIf you are solely relying on someone else as well without a reserve your level of risk just increased significantly  

, or does it LOOK like an office that he's only in for 5 hours a week (few personal items, just a place he pops into 1-2 days a week, in this case the keyboard being dusty might be a good thing... empty trash can, no random papers floating around...)? 

One day while driving he randomly saw a 'for sale' sign on a home.

I agree a random/generic MLS search doesn't help most investors. 

But any random dude off the street can call themselves a property manager in Maryland.I self manage my properties in other parts of Maryland.