When they try too hard, impose too many rules, it might be good for owner occupants, but really bad news for the condo landlords.

The market here is very hot and very hard to find good deals but if you are looking for a house hack you have more options then an investor that it's looking for a cash flowing property.

Just going by the 50% rule, you are hardly breaking even and probably losing money.The garage apartment: is it legal with a CoO?

So my questions are these:1) Since other investors are interested in the house at 290-300, should my girlfriend just get a hard money loan to "buy" or "refinance" the house?

Maybe your wife can get an FHA in her name but then they will only consider her income, not yours.You can use credit cards, hard money, family, friends.

Meanwhile the property own has already sold to another investor because he came to the table with hard money and no fussing. 

He said it's hard to figure the true cap rate.

Houston is going to be your best bet at this point, New Orleans is really tight, deals are very hard to come by these days.

Without seeing the home its hard to say, but many UH basements have paneling.  

I am in need of private or hard money lending for my first flip.