I dont really have a lot of cash on hand (due to renos) and don't have any big loans or LOC to draw from.I have a background in civil engineering and have a good understanding of residential housing and construction.

If you don't understand something, ask the PM to explain.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Welcome to BP.My biggest piece of advice is to understand risk premiums in real estate.

I understand this is a good way to become financially secure over time and am eager to start.  

I guess Im not really understanding what youre looking for.

Quote from @Kwanza Price: Thanks Chelsea for your reply.I mostly wanted to understand what the experience was like and if you have any advice for setting up an LLC/IRA?

This will help you understand the qualifying requirements, key factors to consider when purchasing, and how to assess whether a property might be a good investment at first glance.

I've seen a lot of talk about house hacking and while I believe that I understand the list of it, I'm just not confident to start.

Give it a read, and you'll have a fair understanding of the process.