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'm interested in learning a bit more about typical vacancy percentages, size of the local population being serviced, reasonable percentage of effective gross income for expenses, etc. as well Peter.Hopefully some experienced member(s) will sound off!

Lisa thank you for the comment.

We are in the beginning stages of OOS investing and trying to narrow down on a market.Thank you in advance!

I'm sure we could find you someone to talk to on the ground here. 

We will not work with anyone who has not been to Milwaukee and spent at least a couple days with us, so we can get on the same page on asset and neighborhood quality. 

No it was just like $10k.I overpay for rehab for $15k, House sit on the market for 4 months. 

Traditional mortgage from a big bank, 10% down payment What was the outcome?

The mortgage I have in place has a waterfall prepayment penalty, so 5% penalty in the first year, 4% in the second year, 3%…and so forth.  

The property is a single family located in the East of Irvington, Indianapolis.