Now most of the time we don't see househackers/investors use in-house or portfolio loans from banks because sometimes they have more restrictive guidelines and higher fees for holding it which might cause the numbers not to work or for the deal not to go through entirely. 

They gambled, and lost.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

Also, to track spending habits - just had a prospect withdraw their application when we asked why they were spending half their income on gambling websites.

Based out of Manassas, VA here :) The 750-hour rule is part of the IRS guidelines for qualifying as a real estate professional under Section 469 of the Internal Revenue Code.

It sounds like your question is what is the conventional guideline on using these rents to qualify ?

However, in private financing it is customary for the borrower to foot those costs.You can find each institution's registered account and arm's-length mortgage guidelines, and fees on their respective websites.

I think my personal guideline will be 10 properties, or $2k in cash flow a month.

@LaTonya Clark “One  can’t tell but I do know part of me is willing to take a chance”…You make it sound as if real estate investing is no different than gambling….

There is statutory, and Fannie/Freddie guidelines, that explicitly exempt these transfers from being subject to the Due On Sale Clause...asset protection/estate planning purposes are covered.There's always the question of "Do I Need an LLC to Invest in Real Estate?