So, I'm wondering if I'm missing something.Property Facts:Asking price $165,000 (Initial offer would be ~$130,0001 House - 1600sqft - no rental history - in good shape but wallpaper everything7 Single Wide trailers - 6 of them are currently being rented at $485/month3 additional lots for single wide trailers I have no idea what the condition of the trailers is yet, working on getting a walk through of the property.

If you had quit the bank, the seller, and your buyers probably would not be in as good of shape as they currently are.

Respectfully disagreeing with your mortgage broker - most HOA's are in better shape now than in the past few years. you can search any complex here:https://entp.hud.gov/idapp/html/condlook.cfmIf previously approved and expired it can be approved with an application, not a slam dunk but doable.

The brick walls and foundation all appear to be in good shape as long as the roof is repaired sooner than later.

Get it in rentable shape and then rent it it.

Purchase price: $120,000 Cash invested: $24,000 Single family residence in decent shape.

Hey all,I'm a recent Indiana University Bloomington graduate, and am now working full-time for the university in IT. Like all of us here, I am looking to supplement my income through real estate. I'm personally intere...

You want to see how prices are trending in that area and absorption rates.Good luck with your project.

As long as the property is operating well and in average to above average shape you shouldn't have an issue. 

Now, having said all that, house hacking isn't necessarily easy (if it were, everyone would do it)...it's just easier than the more advanced strategies...House hacking still takes significant due diligence, skill in analyzing the market and the property, time and effort to learn about tenant screening and property management, the ability to anticipate appreciation/depreciation trends, etc., etc., etc....and even with lots of skill and preparation, things will still go wrong (vacancy, plumbing leaks, bad tenants, etc.)