You understand not "risk adjusted reward/profits."

It’s hard work but very rewarding.

In general, house hacking is a gentle and rewarding way of get into REI. 1br SFHs are not worth it, the rental and purchase pools are much smaller.

We will put money in and work with the PM to pull it off, but the reward is ours, not the sellers.

That’s why I look at it as low risk high reward.

It's a tough, but rewarding, business.The economics of this deal might be difficult, depending on the service level you are targeting.

He doesn't buy into the classic trap of survivorship bias: "Although I dropped out of college and got lucky pursuing a career in software, getting a degree is a much surer path to success.College graduates are more likely to find a rewarding job, earn higher income, and even, evidence shows, live healthier lives than if they didn’t have degrees.

There are a couple of challenges that come with them:1) it takes 6-9 months to get them done and most sellers are not willing to wate that long2) lots of upfront fees3) a lifetime of annual inspections and adhering to HUD standardsIf you can overcome the above mentioned shortcomings you will be rewarded with a 30-35 years, fully amortized loan at a great rate. 

Vacation rentals are a very different risk/reward scenario from long-terms.

I don't know anything about it, but from what is here, it sounds like a ton of hassle with no reward.