Each time you take another "chunk" off of the mortgage your regular payments also become that much more efficient.Hopefully, that covers the explanation, but I told you there was proof, so here you go.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The existing owner has it in a trust but it is not his primary residence. 

I work with a lot of househackers and they're typically on the 12 month cycle, rinse and repeat.While the proposition of acquiring an investment property outside of your market in a "landlord friendly" state may sound appealing, i would recommend you stay local for now and househack another couple of properties over the next few years until you've got some more time / experience under your belt.you would need a management company to cover your property that is outside of your market which would not only take 8-10% of your gross it would also leave you a bit vulnerable to a property management company that you A.)know nothing about and B.)you won't have the experience or cashflow or proximity to deal with any headaches that may arise.i would recommend staying local and househacking your way along for now and then maybe hire a local property management company initially to work with your current/local properties to get a taste of what to expect if and when you begin investing outside of your market.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

They work, live legally, yes there existence is an illegal one but reality is deporting them, separating US born kids, it's a mess and for no real positive because they are decent legal acting people. 

Leveraging existing equity is a solid strategy, but as you pointed out, the numbers have to work.

Because there are nuances to seller financing, a lot of space would need to be devoted to covering the subject to make sense, and that requires sitting down to a cup of coffee for a long discussion.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Also It seems that in my city this doesn't exist with a duplex, triple etc..