Was originally planning on renting any extra rooms out in the house I get.I came across a quadplex for sale though the other day and I keep coming back to it in my head.

I realized what might be a better way.Finish rehab.Cash out refinance both homes the max they will give meUse my newly released FHA to buy a 3rd duplex to house hack with a low down payment.Use extra funds (lets say $200k in this example) to purchase 2 $100k homes in local, less expensive markets like Waco, Temple, where we can achieve a 1% rule rent.$2k earned in rentContinue to pay down the ATX duplexes, hopefully continue to earn appreciation on their large home values and simply refinance every time we have $120k+ in equity and use to buy $100k single family home in full in a better market.

I don't think I'm ready to go this route yet, but it never hurts to get some extra information...Thanks for sharing your experience,James

I know it's tempting bear the extra travel costs.

Those comps may feel like poor properties to compare to but they are valuable data points.The regression line will answer exactly what the extra 100 sq ft or bedroom is worth!

If you are using the realized equity to acquire good ROI deals, the extra 1.5% margin would just need to be factored into the analysis of those deals.

. - Now with TV shows glamorizing flipping it seems that anyone with a few extra buck is trying to get into the game. 

The electricity isn't knob and tube and doesn't present much difficulty to maintain and modernize, the plumbing is all pretty simple (single stack).

I know there's a lot about intent, and intent is hard to prove, but in general flips are indeed taxed with an extra 15% self-employment tax if it's considered actively generated income (you're running a small business).

You don’t make enough money to pay someone to run it for you profitably, and if your not willing to put in the extra hours after work once you’ve acquired the unit to get it rent ready and producing, your just fooling yourself.