Quote from @John Underwood: Thanks John, I like your simple approach, I agree with that.

Start with simple repairs, plan for vacancies, and ensure professional inspections. 

Be flexible and respectful to both the residents and to the employee of the company actually paying the bill.I know this sounds incredibly basic and simple, and it is.

With house hacking, there is a simple rule in my opinion: The more uncomfortable you're willing to live, the better the numbers can work, the more comfortable you need to live, the less the numbers will work. 

I've flipped about a dozen properties here in Chicago, and quite honestly, it felt like something different went wrong on each one of them.My biggest piece of advice is to KEEP IT SIMPLE starting out. 

A simple search on a service like Propstream will show you what properties have them. 

You can do this with a simple, one-page addendum, or even a written statement added to the existing lease and signed by you and the tenant.Example:This lease agreement is hereby amended to reflect the change in ownership of the rental property located at 123 Straight Street, Cody, WY 82414.

But they are usually very simple to request. 

Buy low, sell high, it's really that simple.

Start small with simple rehab projects like painting or landscaping to boost value without overextending.