Purchase price: $145,000 Cash invested: $29,000This is a 3/2 home in a good, desirable neighborhood and also a good school district.

Hi BP,So i just passed my school and state exam in long island,The reason i did this was to become an agent so when i do flips i have access to MLS and i can use the buyers commission as the flipper to pay buyers commission when home is being sold.Im trying to figure out what type of broker i should join, most of the big brokers focus on sales agent pitch too much, the only thing im trying to figure out as an agent is what type of docs i should be looking at when im closing my own purchases or could a lawyer take care of all that at closing.ThanksKhan

I think that house hacking in the area is 100% a great idea even if it doesn't cover your costs completely and will work out way better than renting in the long run unless you have some random great rental deal (that seems to happen from time to time in Boston where you have an old school landlord who doesn't realize that rents have drastically increased) You need to live somewhere. 

So school system does not matter, commute doesn't matter.Our oldest is 2 years old. 

I've recently jumped into the REI game and I've found out that if you don't have a "employee" job or a W2 in order to get a home loan you have to have 2 years of reliable income history. 

I could be wrong, but it seems most old school retiring landlords own free and clear in my experience.

Welcome to the area, what a crazy coincidence to have someone from Brevard move here, I grew up in Asheville and went to high school in Hendersonville.I'm an investor here and VP of the local REIA, you should come by our meetings and introduce yourself. 

As far as expenses, I just use a simple Excel spreadsheet and an old school notebook to write down info about each house (if it's on well or septic, city water, which electric company, school districts, etc.).

I have undergrad degrees in History and Finance, so I have an unusual skill set.

However, I think its your work history that is having the lenders second guessing themselves.