Personal readiness includes long-term plans, maturity, and market conditions.

My non-laywer advice is to get that thing refinanced and read the mortgage docs before you close and abide by the terms of the contract.

I envision offering the full gambit of stay options: short, medium, and long term rentals.

But- since you are a newbie, in lay person's terms, the answer is yes...but slowly and over a very long time. 27.5 years, to be exact. 

Monitor and OptimizeEvaluate Performance: Regularly assess the performance of your investments against your goals.Adjust Strategies: Adapt your strategies based on market conditions and lessons learned from previous investments.9.

I've heard that the down payment percentages for investment properties can be higher compared to primary residences.Specifically, I'm looking for insights on:The typical down payment percentages required by conventional lenders for investment properties.Any differences in requirements for single-family homes versus multi-unit properties.Experiences with different lenders and any recommendations for those offering favorable terms for investment properties.Any tips for negotiating better terms or finding lenders with more flexible down payment options.For context, this will be my second property, and I have a good credit score and a stable income.

My house hacking criteria for the last few I have done has been to buy the most expensive 3-4 unit I could with it still at least breaking even after all expenses as a long term rental.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $118,000

Cash invested: $30,000

This is a single family property this is rented by the room. The entire house is fu...

What's a fair amount, well that depends on what this is actually costing you in terms of actual expenses plus the time and hassle involved.

As you pointed out those terms would need to be favorable to them.Could you please go into the owner financing approach?