Technically 5+ units is commercial so many residential lenders won't offer financing in house..

The reason why I am asking for advice on this, is because I just now started to save for a down payment on a house and I am looking to move into my first home next year. 

Hey Team,We currently have a Seattle Housing Authority (SHA) tenant.

That's not a cheap price and I would imagine one would have to have a pretty decent job even in NJ to qualify, and that it would be a nice area and nice house.

I was thinking of creating an LLC (which I will do in the future but not for my first property) and renting the house to the llc for the first year.

The house is rough, but we have experience remodeling and have a GC and an Amish crew ready to go. 

I recommend buying a 2-4 unit property to house hack rather than buy an individual apartment (condo or townhome).

HML puts buyer into title .. buyer house gets rehabbed... 442 refi and HML cashed out and owner has their rental. prior to 08 though you would normally get 5 to 8k cash back instead of putting money in.

That makes sense @Brendan Ferguson...having someone on the other side of the transaction like a friend from the fire house will make HUGE DEAL!  

The house is worth $850K with a mortgage balance of $350k and a HELOC of $200K (used). - Can we claim after the sale that we’ve made $850k - $350k - $200k = $300K or does IRS not consider the HELOC in the sale please?