As a newcomer to the business you may find hiring a GC is much more dangerous than meets the eye.On your first few projects you will just be vulnerable, that’s not to say you might not win the GC lottery.

The added danger is that a vindictive tenant can cause more problems, having building inspectors come, and the city can demand the illegal unit be demolished.

Pros: more cash flow possibilities, multiple units on one loan, land lording experience.Cons: more expensive, more headaches from tenants, fewer to choose from, more competition. 

And the more debt, the fewer investors they need to go get, manage, and work with.

Flips make more fast money but have fewer tax write-offs and you usually pay higher taxes because they often get charged to you as earned income, versus a discounted capital gains rate.   

Keep your insurance, just have them adjust your automobile to fewer miles or just comprehensive coverage.

The piece of advice I'd give you is the same advice someone who house hacked before me gave me: Make sure you can afford the mortgage outright, especially given the current situation.I'm using a Fannie Mae HomesStyle loan that requires 5% down but has fewer property requirements than FHA but does allow for renovation costs and has no requirement to occupy the property.

The one downside of SFR rentals is landlord insurance, where if the property is vacant for over 60 days, the insurance is in danger of being void.

Very dangerous and due diligence is huge.

(Before the crisis the states processed fewer than 225,000 claims a week.)