There are houses that can be lived in and fixed up, or turned into multi-unit spaces (such as terraced houses with converted 'stables' at the back) for living in and earning income at the same time.

But I would be passing up on a big promotion that could lead to significant increase in income. 

Our team’s handling stabilization, so it’s basically turnkey—perfect for someone who wants rental income without the chaos of a fixer-upper.For those of you who’ve made the leap from SFRs to multifamily, what was your first deal like?

I've seen some people house hack a single family home by renting out the rooms, but keep in mind that traditional lenders would not be able to use the income from renting out the rooms (known as boarder income) towards additional income on the application.

•Beyond that, flood insurance adds to a buyer’s monthly expenses, which can affect their debt-to-income (DTI) ratio and reduce their overall purchasing power.

Since you’re new, consider financing options like conventional loans (5-20% down), FHA loans (3.5% down for house hacking), or DSCR loans based on rental income.

If I believe I can generate enough profit this year and navigate any potential inspections next year, I’d be comfortable moving forward—using the income earned to cover any necessary upgrades.An alternative exit strategy is to document the financial performance and sell the property as-is, highlighting its strong short-term rental income.Think through your next five moves, from best to worst-case scenarios, and make a decision that aligns with your goals. 

For instance, knowing the income limits, family size requirements, and the types of properties that qualify can help you make more strategic decisions.

Now, lenders verify income, assets, and jobs, reducing the risks associated with ARMs compared to the past.3.

Keeping the Vancouver property could provide strong rental income, long-term appreciation, and diversification, but it also comes with tax implications, foreign ownership rules, and management challenges.