It's a little pricey but I think it works great.

For house hacking your first house these things don't need to be overly complex, but you do need to think about them.

There are nice areas around Detroit; Macomb, parts of Sterling Heights, Farmington Hills, Birmingham, Royal Oak, West Bloomfield, and plenty more I just can't think of right now. 

I think it will be important to buy in areas that are just starting to sprawl.

(Horsebnb.com)Looking for additional income sources AND the fun people I think this would attract. 

Looking for other ideas, and structures that would help achieve a successful partnership.Thanks DougThat's actually a lot going on.What I think you are proposing is to have your in-laws sell their existing house, buy a new smaller house with their money, sell the house to you as the landlord and they rent from you.

Also Fannie Mae and Freddie Mac just released a 5% down conventional on an owner occupant as well hence they are out there, however just be prepapred to live in the property for a year.

I don't think you can get a true sense of what you are buying from behind a computer.

I have had a couple of opportunities to market similar properties time on the market, desirability etc and having a sharp property with decent ceiling fans helps.I think it depends some on the property and the target audience as I have investors with lower priced multi-units with no fans on purpose that work out very well. 

I think I understand what you're saying and if so, yes that should work.