If you're planning on investing out of your area and will not be managing the property, why don't you look at better markets.  

I dont see how the risk would be reduced on second mortgage unless you are planning to hold the property in some type of llc.

.🚀 Making It Work1️⃣ Optimize Your Space – Converting a living room or office into an extra bedroom can supercharge returns.2️⃣ Target the Right Tenants – Young professionals, digital nomads, and students love co-living setups.3️⃣ Automate the Management – Using systems for roommate screening, lease agreements, and shared expenses makes it passive.Co-living is gaining serious traction in house hacking circles, and I’d love to hear from others who are using this model.

.✅ Exit Strategy Matters – A good deal can turn bad if there’s no clear plan for how the lender gets paid back (BRRRR, flip, rental, etc.).2.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I will focus on how to buy a retirement home in the future while benefiting from a high-performing rental property until you're ready.We have many California clients who plan to move to Las Vegas for multiple reasons.

What was your upstart expenses and do you consider it a profitable endeavor or something that just waste time?

It costs roughly $100/mo but is well worth the expense.  

Tended to leave off some categories of expenses completely5.

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.