There is a story to every pocket of every neighborhood that locals will know, but you may not, if investing out of state or in a market you don't know.

Long story short: 5 unit multifamily set up with frontier internet.

People/investors (usually not investing in Detroit proper) love to scare people off with horror stories.

Now if you could put down half of that and get the same cash flow, that would be a different story.

I can point to many success stories, so their program does work for those who plug in and apply the education.

Don't worry about what others are doing theyre on a different path than you because no ones story is the same. so try to ignore the noise and take those steps:) 

I’ve flipped a few houses and talked to a few investors and this is one of the biggest horror stories I’ve seen working with contractors.

The smart play would be to build a two story wood frame structure on top of piers or concrete block in most cases. 35 feet is a pretty typical height limit in most neighborhoods, so depending on elevation you SHOULD be able to build two stories on top of the elevated foundation.

The moral of the story here is that vacancy is so low right now, especially in Tampa, that it is very difficult to get flexibility with your lease.

As an owner-occupier, you can pay more than an investor would, but as I said above, you are going to be a little hamstrung in return rents unless you can get 3 other units and then that is a do you want to live with three tenants that close when you have two kids.Find some local real estate investor meetups in the area and you will meet a lot of house hackers who can tell you their stories.