Something to note, if you pay cash for the house and later require access to those funds, utilizing a HELOC (Home Equity Line of Credit) allows you to retrieve that money.Secondly, the right approach for investing depends on several factors.

There are many sellers right now testing the waters with prices that typically don't make sense with today's rates.That being said, there is also a psychology behind pricing properties to create true interest and demand.  

If you're looking for the ideal property to utilize for house hacking, don't give up on real estate investing; perseverance is key.

Jackson, TN housing is 29% cheaper than the U.S average, while utilities are about 15% less pricey.

From what I have read on the BP forums on this topic it seems as if your best bet of achieving this is going through a smaller bank and not your typical larger national banks.

I get them weekly, typically 20kish in reno.

After, we use an outside third-party company to check all values and utilize a revalue on anything more than 5% away from our estimated value.

Maybe the loan shows up on your credit report and tilts your debt utilization to a point that makes the lender feel uncomfortable.Can you share some details about the deal?

First deal does not have to be a home run, a base hit is what I've usually aimed for and thats how I got started with condos and single family homes and as those properties appreciated over time I utilized the equity to purchase multifamily properties that I could not initially afford.Cheers

The basic rule for the amount of cash to have at hand is 3 months of ALL expenses as if the rental was unoccupied and you had to pay all the utilities on top of the full Primary mortgage, Interest, Taxes, and Insurance (PITI).As well, it's pays to have a bit more because life happens.Good Luck!