It sounds cheesy, but the best way to prepare is to work with a friend or two and role play.

Plus, if you decide to do one of the other strategies in the future (such as BRRR'ing or out of state investing), you'll be much more prepared to do it if you have a few HH's under your belt--a ton of the lessons you'll learn from a HH can be used to succeed in other areas of real estate ...in fact, I'd say that a HH should be a necessary prerequisite to the more advanced strategies (like BRRR'ing or flipping) for most folks!

This is excellent advice, i know that at this point i am prepared to make an investment at 25% of the property, doing this would make the numbers work but it does seem like there could be a lot more potential in another market or area of San Antonio.

The seller is prepared to offer 20% vendor take back.

It's also a good idea to be prepared to negotiate and be willing to compromise to reach a mutually beneficial agreement.As a new investor in the short-term rental market, it's important to do your due diligence and carefully consider all of the potential risks and rewards of any investment opportunity.

We needed to furnish the shared spaces, and prepare the bedrooms with curtains, but otherwise didn't have to put in as many projects as before.

Do not take on a project like this on a shoestring budget...you need to be prepared for anything and everything.

I am in California, just start my wholesale, I have purchase agreement and assigned agreement prepared by the attorney from Arizona. 

definitely should at least be prepared for a large cap expense related to the sewer lines.  

@Pat Rach if I were your age, I'd be doing everything possible to prepare for my first house hack (e.g.; saving money for a down payment, analyzing potential house hack properties, talking to mortgage brokers to understand what you need to do to qualify for a mortgage, studying up on house hacking strategies, etc., etc.), and then, as soon as I was old enough to qualify for a mortgage (and had the money), I'd house hack a property every 12 months until I hit my limit of owner-occupant mortgages (usually 10).In my opinion, house hacking a single fam or small multifam property is the single best way for people to get started in real estate investing--especially for a young adult.Why?