Some people seem to get locked in to one place they find, or a place a friend or family member is selling without really evaluating the available market.In a small town in East Texas I would think your biggest risk is a big player coming to town that can absolutely crush a smaller player. 

The biggest thing that goes missing is the beach towels.

My names Charles Aiello, upstate New York resident (Rochester NY).

Do you own these properties in your personal name or through an LLC?

However, the biggest con is that you are sacrificing a bit of your privacy by living right by your tenants and it is usually a lot more stressful since everything is your responsibility - managing tenant issues, handyman repairs, taking care of the lawn, etc.I would strongly recommend house hacking especially in the Columbus Ohio market!

Here is an example with some figures:My LLC total investment = $204,000Partner LLC total investment = $196,000Value of project when complete = $500,000Each LLC value afterwards = $255,000 / $249,000The plan was for me personally to go get the refinance loan because the terms are so much stronger than if I went portfolio with the LLC.Loan total = $300,000 (keeping at 60% or under of value for best terms from the bank)Partner LLC payout = $249,000My LLC payout = $51,000In this scenario, I am struggling to see how to get the remaining equity in the project into my personal name? 

Of course, you need to choose your areas and decor wisely, so I recommend working with someone experienced who knows what the clients there are looking for.Hi Zeona (love your name !!!).

Hello, my name is Sergio Vasquez, I am a builder/contractor in British Columbia, Canada.

My name is Joshua.

I also make sure to specify in the lease agreement that I need proof of coverage before move-in and that the policy should name me as an “additional interested party.”