This assures that you know the home's true ARV and are not getting duped by high value comps in a nearby subdivision that carries completely different values than the subject subdivision.

Househacking is great because as it provides you the opportunity to get into real estate with less cash down(3.5% if you did an FHA).It also provides you "training wheel's" to becoming a landlord as Brandon Turner would say.A lot of NY real estate investors are investing in upstate NY, nearby states such as CT, NJ, PA or doing long-distance investing in states across the United States.Not many NYers are investing in NYC itself because of the higher entry point and a lot of the properties do not provide cash-flow opportunities(however they can provide appreciation...but not many investors like that speculation portion).Remember from a tax perspective that your househack is part rental property part personal residence.The personal residence portion of the house is eligible for exclusion of upto $500,000 of gain if you live there for 2 years.The investment property portion of the house is eligible for like kind exchange upon sale deferring your gain.Also you are able to deduct direct expenses and indirect expenses related to the investment property on your tax return.

I guess outside of the city too.Have you done sub2 or whole sale in the city or near by?

Some nearby areas are Johnson City, Greenville/Spartanburg, Charlotte.. don't know anything about any of them.Also have never gotten commercial financing before so not sure how that works!

I’m looking to move to somewhere near by the area and buy my first home.

For example, I hadn’t thought of Craigslist...but many of our customers are from nearby cities in Omaha for a weekend getaway.

And when I do provide them with info, I have been known to stretch the truth more than a little to protect another property comp nearby. 

Total estimated monthly expense: $1188.00I've seen rental comps for 2bed/1bath rentals below 1000 sqft of livable space as high as $1975/mo (high end apartment complex nearby) and as low as around $1200/mo (rundown older house nearby)My goal is to get $1550/mo for rent Questions:1.

Rooms rent for $600-$650 and there should be no shortage of potential renters with 3 colleges and metro station nearby. 

However, does anyone have any advice as to whether or not I should just tackle these loans as fast as possible or consider stockpiling money (while making minimum payments on loans) to launch myself right into REI?