@Jaekwan LeeWhen I have house hacked, the properties have never cashflowed (with me living there).

He has never lived on the property.  

Hi my name is Ornella i am from Colombia, living and investing in San Antonio.

You actually pay a higher tax for being an investor than you would on the same property if you lived there at least 6 months out of the year.

What liability falls on me, the landlord, if there are animals living in my units? 

I think both will go up in value over time and you will see a return if you plan on this being a home you live in for 10+ years.

Would it be possible for me and him to buy a new primary residence for him to live in, while we rent the house he is currently in.

We could be wrong, but it doesn't seem likely.Carini did the math for you early, if after repairs it assess for 240k as you suggest, you'll be able to refinance and pull out 187k, of which about 116k will go to paying off your previous mortgage leaving you with 71k to go plan your next move.This is very compatible with living in the house and getting roommates. 

It's cheap, it's near where we live, it needs to be rehabbed, it's the worst house on the block with a ton of potential.

I'd love to hear from any real estate investors who live half the year abroad (Europe - especially France) and half the year in the USA (sunny California, in my case).