Your inspector should give you a good idea if there's anything big and pressing.Also, if you house-hack, that hopefully means you'll pay a lot less in your mortgage than you're currently paying in rent?

I found a property that cash flows around $100-$150 in Bakersfield, depending on the interest rate, but I am wondering if it is a good idea to take this and run with it as a first rental, in order to be able to cash out refi in the future to be able to put a bigger down payment on a mult-family property.

Estate Building through Real Estate Investing was a topic of much interest in the 1970s that’s not discussed much, if at all anymore.  

In most cases, neither is warranted.Warning: I am not an attorney and this can be a complicated topic.

@Jennie Berger I think it’s a great idea to have an attorney review first.

I am originally from Elgin, but live down in the city now.Love the idea of owning a campground and sharing it with other people...for me, there is just a different energy when you get a way from all city noise, lights, and hustle & bustle. 

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsWishing you the best!

It's so easy to Google anything and find information on anything including YouTube videos.Many newbies on here struggle with the search function which usually reveals a wealth of information on most any RE related topic.

Personally I don't like the idea of an HOA having control over my investments.

. - credit score is above 800.Any guidance on above options or ideas on other financing scenarios would be greatly appreciated.Thanks so much!