My goal for this post is to give some insight into how a realistic house hack can shake out for someone in this area.A LITTLE BACKSTORY: This was a couple looking for their next house hack in Charlotte, NC.

It's a good practice to overestimate costs and underestimate after-repair values (ARV) to keep your expectations realistic.

With just these numbers to go on, if I felt the neighborhood is solid/trending up and not down and assuming your rent projection is realistic, I'd buy it. 

@Max Dauer just remember that even tho you may only spend a few hours a week actually working on them or dealing with guests, you are always on call.

Hi @Carlos Rodrigues,Realistically, it's unlikely that sellers will get permits while in escrow.

., electrical, plumbing).Project Timeline:Start Date: For the portion of work they are completing.Completion Date: Set realistic deadlines for their tasks, adjusted to your overall project schedule.Liquidated Damages:Specify a daily amount to be deducted from their final payment if they fail to meet deadlines (with exceptions for factors beyond their control, like severe weather).

Who is monitoring budgets and spend?

Read "Long-Distance Real Estate Investing" by David Greene, then spend some time reading through the forums.

You’ll spend more time learning how to manage than you will actually managing something.

Way way too often Mrs. wants to stay, but realistically can't afford to stay with one income....and it is just a downhill disaster finacially the longer they stay.