The person isn't going to want to sell their house for the loan balance and closing costs in this market. 

A licensed agent can start sending you houses from the MLS and a Wholesaler can help send off market deals to you.Since you mentioned the BRRRR method it sounds like you will be financing the deal.

What would you say is the correct way to gauge if your income is solid enough to invest in a house hack?

Under the current system the commissions are just rolled into the price.The problem will be when an independent buyer wants to see a house but won’t sign a buyer’s agent contract because he doesn’t need an agent.  

Hey Everyone my name is Cody, I am 21 y/o living in SLC, UT and I am just getting into house hacking and real estate investing.

I.e. refinancing your house may help with the down payment, but you still may not qualify due to not having a high enough net worth.  

I am looking for distressed properties like hoarder houses or someone who wants to sell off-market quickly.

Reinvestment/Expansion (10-20% of Income)Rule of Thumb: Allocate 10-20% of your income towards reinvestment in your business or properties.Why: This fund can be used for purchasing new properties, business expansion, or other growth opportunities, ensuring continued business development.Summary Breakdown:Mortgage Payments: 25-30%Operating Expenses: 30-35%Emergency Fund: 5-10%Capital Expenditures: 10-15%Paying Yourself: 10-15%Reinvestment/Expansion: 10-20%Adjust these percentages based on your specific circumstances, risk tolerance, and business goals.

Purchase price: $1,425,000 Cash invested: $400,000 Value add and a house hack!

I currently own 47 rental doors and want to continue to do the cash out BRRRR strategy.