Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

. - WRT income, at a minimum it has to cover all of your costs plus some for unforeseeable expenses.  

Does anyone have a template or method that they use in order to screen tenants effectively in order to reduce the risk of non payment and damage to the property? 

@Fabio CattolicoFrom my experience, balancing career growth, cost of living, and real estate goals is a smart move.

My father is a contractor so we will be able to complete most of the work ourselves while keeping costs low and add equity.

Hey @Jaycee Greene someone on our team handles the acquisition and lending/banking portion, we only do the monthly bank draws for construction costs!

Quote from @Dylan Webb: Have you talked to a lender to see what it would cost you?

Even 600k loan at 10% interest costs $165 a day.

If transferring the property to an LLC, be mindful of the due-on-sale clause, and note that an LLC itself does not offer tax savings unless electing S-Corp status, which is rare for rentals.To maximize tax benefits, consider cost segregation, bonus depreciation, and short-term rental (STR) strategies, which could allow you to offset W-2 income if structured properly.

First thing I notice is the big jump in ARV from the Total Project Costs.