Quote from @Zachary Deal: A lot of investors utilize the BRRRR strategy in those markets as there is relatively high rents compared to the value of the properties!  

•Explore partnering with wholesalers and real estate agents who bring you off-market deals.5.Continue Building Credit:•As your properties generate income, pay down your credit lines strategically to maintain high credit limits and low utilization.

Neither outcome is good for you.I give some approximations of each expense category in The Hands-Off Investor, but the best way to nail down operating costs is to look at the property's historical performance.For example, Contract Services and Utilities. 

If you can live for free and only pay utilities AND buy an investment property, that would be ideal in terms of savings and cash flow.If you can't stay and your parents want to make some money on that property, then yes, house hacking would be your best option especially since you don't want the best place in the multi.

Separately metered with tenants paying all utilities.

If not, you will have to utilize hard money which will drastically increase holding costs.

I'm going to utilize this intel.

Additionally, if you onboard a new units during the 1 year mentorship you can utilize the team to help you be profitable from jump street.

If utilities are present, the property is worth what other bare land properties in the area are worth.

Even though rental properties can be somewhat passive, there are still things to keep an eye on, like collecting rent, making sure utilities get paid, ensuring property management is doing their thing, etc.