Use a 3rd party servicer in case the person still have some debt in the property to pay directly to the mortgage company.5.

Since I'm planning to do this from out of state, I'm uncertain if this is a wise decision, especially since it's my first time venturing into real estate.

If they choose to live in a smaller unit and rent out their 3-bedroom apartment instead, the househacker’s tenant will be paying about 45% of their mortgage payment.While this still leaves househackers short of cash flowing during the initial years, there are significant benefits to consider.

Initially, I was planning for a quick sale and contacted my private money lender for a hard money loan.

The fee you'll pay the realtor for the listing commission will likely be less than what you'll be paying for more than 1 month of vacancy.

Now if you sell and get into a better area and use leverage, here would be what your numbers would look like.1) More rental profits.2) You would be paying down your loans every year.

Don't pay for coaching or a mentor (yet).

This way instead of selling, paying taxes, you can borrow against it and invest again.

Good luck and keep us updated with what you plan to attack!

These are just a few starting places that could help you sort through your plans!