Have you decided on which neighborhoods you want to target?"

Add in the principal paydown on the investment property which would be another 5k.

@Jose Solis you just need a loan for the land? 

This person will most likely always pay on time and their is a higher likelihood they are clean which will mean in the end of their lease you can lease it to the next person while theyvare there and the deposit will cover the small charges. 

You will have to create your own renovation estimator with the numbers that you gather.

The lot is almost perfectly flat which makes this significantly easier. 

You can bill them for the issue but getting them to pay is a whole different problem. 

Got divorced at that time which threw a wrench into plans so rental was put on a backburner.

I like the areas you mentioned - they look solid. 

Hi @Tim Holt I think in general house hacking is usually a good move because it gets you off the sidelines and into the game with the most favorable financing possible (30 year fixed).There's a lot of value in getting started today vs waiting some undefined number of years until conditions are better, which could be a long time from now, because real estate is a business and the sooner you start actually learning about that business, the better.With all that said, I always recommend that people analyze any potential house hack as a pure investment that they aren't going to live in, because someday they may want to move out and you should know up front (before you commit) whether you're going to be able to do that, or whether you're overpaying and will be stuck in the property unable to move out because it'll be cash flow negative if you do.So you had it exactly right when you wrote, "the property would need to cash flow when I move out and rent out all units."