Hey y’all, I just bought my first househack!

@Jackson Ebersole are you a HML or do you just happen to know quite a bit about the state?

This is a great place to learn, just like everything on the internet just do not believe everything you read and if it seems too good to be true it probably is. 

But just wondering if there are any pitfalls to look out for. 

Just use what you are using.

There are a lot of tricky rules around this, and I believe Freddie either just changed or will be changing very soon to require 1 year of property management/landlord experience in order to count future rental income when buying a new property.2nd question: All debts in which you're obligated, regardless of whether they report on your credit report, are considered in DTI.

These are just some important questions to ask.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

We are always looking for deals, Also this poster is not buying fully renovated props for 80k, SURE maybe just maybe he can find one here and there, but highly unlikely .

There is no charring or damage to structure, just smoke discoloring as far as I can tell.