And being BP which is small investor ( majority) dominated and slanted towards wholesaling houses or fix and flipping this is simply a different arena..

All roomates are responsible for the total rent unless you rent by the room for a rooming house.

20k will maybe cover a 5% down loan a 400k house. 

The first one is a 3 bedroom 1 bath house on 1.67 acres.

Podcasters that does house walk throughs will sometimes say, "if this Floorplan isn't available in your city/state"  blah blah blah.

They claim to have owned four rental properties and a large house which they sold before coming here.

Moisture in ceiling; subfloor damage.Moisture in ceiling; staining and previous repairs.Moisture in baseboard and floor.Moisture in ceiling; staining.Moisture in ceiling.Roof replacement; address moisture and leaks.Exterior inspection; identify and fix moisture sources.Fix moisture damage.Electrical system overhaul; ensure safety and compliance.Temporary housing costs for tenants during repairs.

For example, I would need a new loan from a bank for the remaining $550,000 after the 4 years or would refinance the house for the $550,000, correct? 

I have bought and sold over 1,000 properties for my own inventory, and did Bigger Pockets Podcast #82, and have spoken coast to coast from Manhattan to San Francisco on real estate topics, and wrote a book on my experiences.So I can't say I did it all on SFH, but renting houses has been a big part of my real estate investments since I first started investing.

Nobody wants to stay in the house hack.