I just got $900 for a 1 br in the hood and $1700 in a C-B area! almost 2% rule!!! 

I am willing to pay 20-30% down but borrowing at 7% to buy a property with 6% Cap rate does not sounds right.

As it enables you to live in one unit of a property while renting out others to pay your housing bills, house hacking is an excellent strategy—especially for first-time homebuyers.

Unless you're paying cash, something to consider.

I personally don't care what some of the folk here thinks of me.

Very happy for you taking the leap into Real estate investing, it's a venture that some folks never get off the sidelines for.

We did a walk through and did not smell anything 2 days ago. so afterthe complaint we said we could go there and inspect.tenant started getting really angry and complaining about other things and how much rent they pay and we are greedy.

I know that I stand to make more money per renovation by just paying for the work, but I'm attracted to the idea of partnering with him for a few reasons.

The bottom line is that he tries to convince you that you can get rich by convincing prospective lease- purchase buyers to pay $8-$10k for the right to sign a lease option contract. 

If you don’t use 20% down, then you pay a monthly fee into your mortgage payment.