I want to lay down a smart and safe foundation to build a business on, so....Personal Goals:Year 1-2: house hacking to pay some/most of mortgage while also building rental historyYear 2: have sights set on next investment and rent both units in first property.

Big ticket items like the foundation and the roof are repairs can end up sinking you in a deal if they aren't accounted for in the initial costs.

If, instead, you were to simply start with what's been proven to work as a foundation, there is less to worry about (although Ben's main point stands - you do need to think about a number of different factors).I recently posted my thoughts on this in a different thread, so I hope you'll allow me to re-post here.

My friend knows a previous landlord who is selling a property that includes a side by side 5 plex, a 2 story house with a basement and 2 car garage, and 1977  16 x 70 moblie home that is current owners residence (on a permanent foundation, with a large addition, porch, deck & 2 car garage.

I've found at least one that will allow the LLC, but only through a commercial loan.  

Costs were higher on this one because we hit a bunch of CapEx items - new roof, new HVAC, new deck, vinyl plank flooring throughout, new appliances - plus we had some unexpected big-ticket items - had to rebuild a chimney, for one and also build a foundation for an addition that hadn't been done properly.

Looks like you have a great foundation to get going!

.- Banks won't lend when there are certain things wrong with a property such as roof issues, foundation issues, etc.

The ones dating back to the mid 1700s are a little more rare - mostly due to "great fires" in the 1800s {seems every city had one} or, in the case of Halifax, the Explosion of 1917 which levelled much of the North end of the city.I am in the process right now of renovating/rehabbing a duplex where the front half dates back to the 1870s - ballon framed walls, rubble foundation, 5-layers of accumulated flooring and 4-tonnes of lath-and-plaster.

You will see exactly how Cheri has helped thousands of real estate investors create financial success by putting a proper foundation under their dreams....