In current market conditions, rents have generally increased, making house hacking a viable entry strategy.

And if you do not think you will get caught, a lot of nosey neighbors will call you out on it (we did not rent a basement but we had built a shed as an outdoor dog house that was heated and air conditioned and someone called about that on us...).

It's hard to say if a 60k house is worth 40k or 80k, that's within the margin of error based on how much do you consider condition in your valuation.The % based agent commission model does not make any sense below 100k.

And along these lines, if they move out, what condition does building and property need to be in?  

Is the condition of the property good? 

While some leases say they will remove all evidence the sign was there and restore to original condition, I doubt that happens in bankruptcy for example. 

My belief is purchaser had more info on inside condition than I had or was buying to OO.  

We do not have serious floods, tornados, heavy snow and rain, frequent major hailstorms, big earthquakes, or extreme weather conditions.

When it comes to choosing between a turnkey property and a fixer-upper using the BRRRR strategy, it really depends on various factors, including your market conditions and where you are in your investing journey.

Quote from @Corey Gelineau: The inspection contingency is used to legally back out of a contract due to the property being in an unacceptable condition upon inspecting the property.