I don't think your first property needs to be perfect, but doing the work in advance gives you the possibility of refi (in a good rate environment) or more equity on a HELOC.

In addition, a strong property management company will tackle all aspects of marketing, application, ensuring resident satisfaction, fair housing, handling late payment/evictions, renewals, etc. 

If you treat the renter (resident) well, provide a well-kept home that you service regularly, and stay on top of any maintenance issues, a resident will likely remain in the house for many years. 

I have experience as a Residential agent in Denver, CO and as a commercial Leasing Associate in Chicago, IL.I am planning to purchase my first rental home here in the next year or so and make it my primary residence.

Slow beginnings are common in real estate investing, and building momentum comes with intentional planning and leveraging your resources effectively.To gain traction:Evaluate Equity: Review the equity in your owner-occupied home and rentals.

Some have more than $1 million in equity while others have less.4.

You're gaining equity.

The growth of 1.6 million additional residents will require investments in infrastructure, housing and transportation, the organization added.The numbers were provided by the group’s research team with data from the North Carolina Office of State Budget and Management and the South Carolina Department of Revenue.

Since generally the benefit of a house hack is to hold the primary residence loan as long as possible, if you hold it long-term, you could still be forced to pay the mortgage insurance 10+ years down the line.Plus, you can only have one FHA loan (with some exceptions) at a time, so I'd rather use this house hack for 5% down which I can repeat and save FHA for another time. 

Left almost nothing in the deal and got a great equity capture at the buy.