This can result in a significant increase in property taxes, especially if the property has appreciated in value over the years.The ATI exemption allows property owners to apply for a reduction in the assessed value of their property for tax purposes.

What the investor will have is a long term appreciating asset; that will provide an increasing cash flow as rental rates increase, and steady amortization as the note is paid down.  

Is saving the fee a PM charges worth the potential thousands in cost and headaches?

Also, I am assuming since you house hacked that you only did 5% down, which then increases your mortgage payments compared to 25% down buyers.

Right now, my focus is on leveraging my degree and skills to land a higher-paying job, increase my annual income, and ultimately grow my net worth.Real estate has always been something I’ve been interested in, and my long-term goal is to start investing in both real estate and retirement to build financial security.

Finding durable products at reasonable costs. 

We are asking the current tenants to leave as the property is not in optimal condition we like to have our rentals and we would like to fix it up to increase value and rents.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

You’ll lose any property tax caps they may have enjoyed and be increased to the non-owner occupant tax. 

Boosting your score doesn’t take long, and there are services that can review your credit history and help you increase it within a couple of months.