For instance, you cannot deduct labor on an unfinished flip until it is sold.

Personally I try to push out my terms on all my loans even when investments could cash flow on shorter term loans.

The latter is what I'd recommend planning on! 

. - Your return on equity with this house is terrible. 

@Brennan CoulterWhen deciding on a house hacking strategy, consider your lease timelines, market conditions, and available opportunities.

Having said that, the federal government put a restriction on buying houses if you don't live here. 

Comprehensive CoverageBasic Coverage: Covers specific risks like fire, theft, and certain weather damage.

Hector, first of all congrats on the big step.

Based on personal experience, I would add assuring the lender is specifically authorized to perform an on-sight property inspection, at the lender's discretion / convenience. 

Cap-ex was needed for:* Original 1960s kitchen, appliances out of order* Original 1960s Pepto Bismol colored tiles in the bathroom* Tobacco and marijuana stains/odor in every room* Stained carpet covering damaged hardwood* Broken side door from forced entry by police* Zero recessed lighting with 3 layers of blinds on every window* Lots of trash in the basement both on the floor and mounted to the joists overheadCheck out the Zillow listing at: https://www.zillow.com/homes/119-Jasper-Pl-Alexandria,-VA-22...What made you interested in investing in this type of deal?