I'm considered a real estate newbie, working on acquiring my 2nd investment property to rehab and refi. 

Understand Dodd Frank when applying credits and lease options; Lease purchase agreements can be a way for sellers to find a buyer, acquiring both a buyer commitment for the future as well as rental income now, to defray monthly obligations; A seller's offer of lease purchase can also attract a buyer who wants the property but needs a little additional time to complete loan qualification and does not want to or cannot make an immediate down payment; terms of payment in a lease purchase should conform to local rental data for comparable homes; the amount paid monthly to be set aside for down payment of closing costs should be in excess of the going rental rate; if not, the lender arranging the mortgage at lease end may not accept the set aside funds; instead, the lender will disqualify the funds by declaring them a "gift" from the seller to the buyer; lease purchase documents should be drawn up with legal counsel to address eventualities such as the buyer not qualifying to purchase at lease end or a market value decline impacting the agreed purchase price and lender's terms. 8.Selling to Relatives - Selling to relatives can be a good option if the seller is having trouble moving the property or if they desire to keep the property in the family; if the property is owned outright, there are few challenges, but if a conventional loan is needed to complete the deal, it can get tricky; creating conditions where a lender is convinced that this is an "arm's length transaction" may be challenging.

Long story short, I live in Hawaii right now and looking into acquiring rental properties in mainland where SFHs under 100k are widely available.

You basically are deferring the Tax Obligation of the Commission to the date where you will sell the property.As a result of doing all the above, I reduced the purchase price of the $1.5 Million Purchase by 3% or $45,000.So, not only did I beat down the price by $200k ($1.7 Million originally), but I received a Credit of $45k for a total savings of $245k off the original listing price.I'm not sure if any of the above will be anything but Entertainment, but I thought I would mention it since I went your route and acquired my Broker's License without being a Salesperson.I found myself swimming with the Sharks!

My main strategy is to acquire an FHA loan(since I don’t have very much income), and house hack.

It is very important that once one acquires working capital that one preserves working capital at all costs.  

This is taxable to both IRA and Solo 401(k) plans as Unrelated Business Taxable Income (UBTI).A Solo 401(k) is exempted only from taxation on Unrelated Debt-Financed Income (UDFI) when it uses debt-financing such as a mortgage to acquire real estate. 

The whole idea behind acquiring investment real estate is to expand your portfolio and to do so in a way that smoothly meets your objectives.

I am currently working on a deal to acquire my 2nd rental property and my first with a partner.

Hello BP world, I've been doing my research and studying the real estate industry for more than half a year now and I'm 100% certain that my strategy of acquiring my first investment property will be a house hack.