#3 Are there any tax implications or things I should know if I update for my own use starting this summer vs. right before moving out next summer?

I'm now living in Minneapolis for at least the summer and evaluating house hacking opportunities here as well, and triplexes/quadplexes here often run $500,000 to $700,000 with 0.8% to 1.0% price-to-income ratios.FHA loan limits vary by city/state and in certain areas such as CA/NJ/NY they max out at approximately $1,450,000 -- see here for reference:https://entp.hud.gov/idapp/html/hicostlook.cfmI can live anywhere in the country. 

Originally posted by @Doran Summers:@Jenny Chou why not invest in your own back yard first?

Ski areas near by and good summer weather.

It would take 20+ years of negative cash flow to equal cash already out the door.There is a sweet spot but numbers are not the only thing, you need to weigh the risk and many other factors such as property location potential for appreciation, property condition...A property in Pittsburgh area with 20% down and 100/month cash flow is not a good deal but if that was in DC you would be celebrating by doing backflips.So lots to ponder but key is never over leverage

The staircase is similar to the one in the picture however is much older and hasn't received TLC since I don't know when.It's Maine - snowy winters and humid summers are a thing.

Hi all, I’m new to RE investing, and I jumped straight to the deep end...Last summer I inherited some money and bought a property in Olympia that is a grandfathered, non-conforming trailer park of sorts.

Even the "I helped my uncle turn a rental unit one summer by bagging trash after the demo."

It is very popular for Summer visitors.

Many people would be shocked at my summer monthly water bill as I suspect no where in the US is the water more expensive than San Diego.I want to encourage the tenants to conserve water and be responsible for reporting or addressing water issues (such as a bad toilet flap or a leak in the irrigation system) so we do not include water in the rent but charge the tenant based on actual water used.