Lenders are going to look at three main criteria from a credit approval standpoint.

The purpose in mind is long term wealth/cashflow.

However, my area (high cost-of-living) could make breaking even or positive cash flow difficult.The main question: is house hacking worth it or a "good deal" if cash flow from the rented units doesn't fully cover all expenses but you're significantly reducing living costs?

Mainly if you don’t have the down payment for 20+ unit, you would syndicate a deal, but with no track record it would be hard to convince investors.

Prices in Central Maine are really high right now too.

The main difference being how and when title is transferred.  

I'm considering relocating in the near future strictly for the purpose of investing/building a portfolio of rental properties.I'm specifically interested in using the BRRRR strategy on residential 2-4 unit properties and 5+ unit commercial deals.I'm looking for assets in desirable C+/B- or better areas so no section 8, high crime or low income type of neighborhoods.Rents must meet the 1% rule and I'd like to cash flow $200/door after refinancing once the property is rented/stabilized.I'm trying to find a market where deals are more readily available than here in South Florida where it's very competitive.If you were gonna pack up and move somewhere strictly to invest in rehab/value-add multifamily where would you go?

The main reason I am getting into real estate (hopefully sometime soon) is because I like math.

SMLLC is automatically disregarded for tax purpose.

The main benefit of being "grandfathered" by using the existing structure is that setbacks and construction techniques can also be grandfathered.