The mortgage would stay under the seller's name.The buyer could then rent out the unit, renovate, etc. to increase cash flow or make more money.But aside from a possible "due on clause" being called by the mortgage company, what's the benefit to the seller?

House hacking our basement as our first investment, we have remodeled and redone our entire basement and now getting ready to rent out.

From sourcing turnkey rental properties to finding long-term residents, and comprehensive property management, our expert team offers a full-service solution for a truly stress-free investing experience.

wanted to do a full gut renovation for a flip How did you find this deal and how did you negotiate it?

So, any investments are on your personal taxes the same as if the property is owned by you personally.

Renovated Hey @John Perkins, welcome to the BP Forum and nice work!

In 2022, we also bought a gutted 56-unit apartment complex and fully renovated it in 14 months (over $2.25mm in construction)!

Ascend Property Management.

I love that you have specific goals for 2025 - I believe if we think it, write it, say it, and share it our goals are 10x more likely to come to fruition.Are you able to do option 2 and just house hack a 2-4 unit building and use a renovation loan which allows you to put down 3.5-5%I highly suggest getting to some local chicago meetup groups (we have an in person one on the 17th)...here is BPs list: https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a full list of the chicago meetups that I can share with you too if that'd be helpful.

@Michael Beirne Lower priced markets such as Baltimore are very difficult to operate in utilizing entirely 3rd party support.