Another option is going to be looking for off market deals, but they are going to want all cash or hard money loan, which you could do for a year and then refinance it once the property passes inspections for a long term loan.

I have an option to rent to a close friend of mine but from a screening standpoint I don't know if his financials are there.

I dont live in Tampa, that was just the only option to post.

Go to the Etsy website and search for "property management spreadsheet" and you will find more options than you can shake a stick at.

If you cannot refinance it is unlikely you'll be granted the novation and it will take a lot longer to get an answer on that.The beneficiary of that assumption has to fully credit qualify so, while yes, I agree that might be an option, it's not a given.

I use truepeoplesearch.com, if I can't find the contact number there I'll use Propwire's skip tracing option they have recently added. 

Hi Tyquan, An FHA loan would be an option for the use of a primary residence purchase. 

Is there one area that is typically viewed as the best option for house hacking? 

There are several options to utilize the equity position.

He said that will be about a $30K rehab.I am only considering this because the unit has been listed for about 20 days and so far 10 inquiries have not resulted in good options.