The seller told us, the house needs EVERYTHING, from roof, kitchen, bathroom, floor, wall, ceiling, lights, lawn, doors, it's pretty much a big rehab.

I've decided to take the plunge and invest in real estate, and want to do so by house hacking with a duplex.I want to purchase sometime between summer and winter of this year (I hear that the holidays are the best time to purchase), and plan going to get a few mortgage preapproval / loan amount quotes.I've got a few questions that I would love to have some light shed on:1) What are some things that I can ask / look for in order to determine some intangible things about the lending institution such as:a) Willingness to work with me in order to get my loan approved (i.e. if I'm not going to get accepted for a loan, I'd like the person to at least think if there is a way for me to get accepted)b) Closing speed (i.e. how fast can the lending institution close a deal?)

There is also extensive drywall damage (including some visible mold in one small area) due to roof leaks, some which my inspector feels are active leaks, and a septic water level warning light.I was told by the management company that an OO doesn't have an inspection period (not true) and that HUD will never do any repairs (per their handbook they can repair major--roof, electrical, plumbing, structural, septic--issues at their discretion if previously undisclosed but uncovered by OO's professional inspector and reported to HUD within 15 days, don't know about in practice). 

That's when a very bright light bulb went off in my head after coming across a YouTube video on real estate investing.  

I have found the in the Southeast area's of the country including Jacksonville it is approached more lightly.  

Is it OK to be a light hitting second baseman rather than a power hitting left fielder?

I respect the fact that a tenant needs to be able to lock their door, but this seems like one step away from changing a light bulb. 

Frame your offer in that light.

Your niche would be to buy around the college whereas you can take a 3 or 4 bedroom provide Wi-Fi, lights, and water, cable or direct TV, and rent each room for $500 per month to possible students.

I am kicking myself enough already and will undoubtedly lose a substantial amount on this project.Bill Norris - AB RenovationsDon't say I didn't warn you, folks.