If you qualify to be able to cover the mortgage alone, removing that person shouldn't affect your position.

I didn't go over partnering or finances - I might cover that in a later post.Have you guys thrown your meetup on Meetup.com? 

We are still diligently screening the tenants and they are agreeable to using their parents to cosign in one way or another.Can I have one parent cosign for the group if they agree or does each individual renter need a cosigner?

One unit ($200K) covers your reinvestment requirement for the 1031. 

House hacking is the perfect way to get experience in investing in real estate while also covering a majority of your living expenses.

Another problem we have is owners who are not good with money and are unable to cover the cost of our vendor's invoice.  

If its a short term rental and the long term rent doesn't cover the mortgage then will be a 70% no ratio 

I don’t know if you could get an umbrella policy that would cover self insured homes.

Without tying up all my cash, what avenues should I pursue to cover the $72,400 cash payment I will need to make the deal happen on top of taking over the current owners loan?

Positioned on a corner lot, it boasts covered off-street parking with additional guest parking on the side.