First-time homeowners can start creating wealth through real estate while lowering their living expenses by using a clever tactic known as "house hacking."

So, yes, if you like it yourself, you'll find it easier and better to "sell it" to others as a destination and you manage expenses and resources more efficiently.

If on average, selling a property costs about 8% So then we would have:200k-8% = 184k - 80 (mortgage) = 104kBut, let’s say the property was a long term holding so capital gains taxes due on it are 15% (assuming no state taxes in Florida  So our capital gain was 100k and 15% is 15k due in taxes!

Our broker mentioned that the average interest rate is 7.5-9% and they have never seen the rates drop below 7%.

Based on what you described you will be incurring significant expenses renovating the building.

Overhead/maintenance will be more expensive, make sure you factor that in.

I've found a couple very old posts on this but would appreciate feedback from any current Buildium users that use credit cards for expenses.

Awesome thanks guys just trying to see how I can carry a bit less with expensive interest rates since the seller was agreeable.

We are stuck because my husband makes just enough to live, we've cut every possible expense and really want to acquire rentals but can't find the capital.

Most doors average around 150-200$ in that area.