If the numbers broke even at 3.5%, investors would be flocking to buy that property putting 20% down.House Hacking is about the long term gain.

You are only budgeting 3% for repairs and that might be ok immediately after a rehab, but a few years later that may be back up around the typical 5% that most people cite as a reasonable amount to budget. 6.

And also keep a nice chunk of change in reserves or very safe short term investments.

People offer to pay cash up front or rent for a longer term in hopes of avoiding any scrutiny.

Here's the language I use:Consent to Contact References and Perform Credit CheckI authorize [Type Agent Name Here] (“Agent”) to obtain, and to share with [Type Landlord Name Here] (“Landlord”), information about me from my credit sources, current and previous landlords, employers, and personal references, to enable Landlord and Agent to evaluate my rental application.I give permission for the Landlord or its Agent to obtain a consumer report about me for the purpose of this application, to ensure that I continue to meet the terms of the tenancy, for the collection and recovery of any financial obligations relating to my tenancy, or for any other permissible purpose.I authorize Agent to share my completed rental application (along with any supporting materials) with the Landlord.Applicant signature: _________________________________Printed name: ______________________________________Address: ____________________________________________________________________________________Phone Number: _____________________________________Date: ______________________________________________

We will be doing a long-term rental for $2,400/month.

Pricing is typically based on loan volume.These solutions will help with automating tasks related to complying with your state's regulations around private lending.

@Charles BurgessIn order to begin the process of looking at a lot in terms of potential development, it’s important to first keep in mind that a number things must be considered.

Hamp,I appreciate the advice.Due to moving back to Colorado, I would probably shoot for long term rentals, so possibly medical school or people stationed at FSH.  

I rented out my condo (short term - midterm) to move in with him, and now he is ready to rent out his single family home (long term).