However, Google seems to suggest that the interest rate could be quite high and lenders won't lend as much since the land is vacant.To put my situation in context, I am currently working a W-2 job and my family and I are renting, so I am hoping to find a suitable multi-family property such as a duplex to move into for a house hack.

I'm in a similar situation with a  potential renter. 

In that situation you may have to be a little creative and possibly consider a short sale or maybe subject to and negotiating with the bank as well as the seller.

Definitely a good way to free up capital for additional purchases as long as you don't over-leverage and end up in a situation where you're not cash flowing.

It's a wonderfully informative book explaining in detail our situation of investing in a distant market.

I am taking a job in the area in about a month and want to lay the groundwork to hit the ground running.Just a little background on my situation... my wife and I are from the region and are moving closer to family after having spent the last 6 years in the Syracuse area.

I'm new to real estate investing and was looking for advice on my current rental situation.

Understand where they are coming from, why they are looking to sell, and what their situation is.

Is it better for my situation to refinance the property to have more cash flow or do I keep it as I am doing now?

Is there any difference in how you approach these situations assuming the houses have equity?