Factor in the cost of property insurance and taxes, as these expenses can impact your cash flow.

If I was in financial distress and losing my home through foreclosure or tax delinquency, I would not want to deal with an enthusiastic newcomer trying to make money on my misfortune.

We have a property we very much want to buy where the low utility/property tax bills would allow us to be able to thrive living in with our limited income, so we are hoping to sell immediately.

My question to you guys is...would you go through a flip for 30K or less before taxes. 

Whether or not you'll be able to lower your current living expenses by househacking will depend on:- the type of property- property taxes - which are relatively low in BK compared to other counties- down payment- projected incomeThat said, househacking in NYC is totally doable and most first-time househackers find success in located small multifamily properties (2-4 units) preferably with some sort of additional income potential (i.e.

Part of that is the incentives our state offers to new business, part of that is a business friendly general assembly a regulatory environment, and part of that is our low corporate income tax rate.

These products have no income, taxes, or personal liability limits tied to the loan.

then you're on the right track in understanding how hard it is.The second thing is that you can skip all the headaches of becoming a landlord and still get the cash flow, appreciation, and tax benefits by investing in passive real estate syndications.

Plus real estate is tax advantaged!

When I have an experience as bad as this one was, I feel I owe it to other investors to warn them.