My husband and I are looking to buy our first house hack in Salt Lake to reduce our living expenses and get into the real estate game.

General interior remodeling work                                              $50,000 - $70,0002) Add for kitchenette & new bath & laundry                               $80,000 – $115,0003) Egress window well if necessary                                                 $10,000 - $18,000which is cleanly out of my price rate (to much money) and, here's another one The average cost of converting a typical basement to a legal rental unit will cost $85K - $ 95K and include:1.

Yeah, some just call it learn by doing.Only from what I've heard from others, these groups are always upselling for you to take another, more expensive course from them. 

Your asset value will increase each year with your revenue, so look for assets that you can manage the revenue and expenses in the most efficient way to release your investment potential. 

Our idea is to convert part of the home to a Jr Adu and get rental income that will offset the expenses for dear dad and let dad live rent free.  

The cash flow is also eaten up by cap ex events (which are absorbed far easier in the higher barrier/more expensive locations where cash flow may not appear as strong).

HOA fees for a condo can be expensive that hurt your bottom line.

This feels like I have been advised to start an avalanche of yearly expenses , additional paperwork etc. ! 

Higher interest rates are certainly dampening "great deals" or even good/average deals. 

As you mentioned, residential properties depreciate over 27.5 years, while non-residential properties depreciate over 39 years.If your short-term rental only averages 30 days or less as an average rent period, it would classify as transient.