I know its probably an emotional house for you ( mine is also) but try and run the numbers on what your monthly cash flow would be if you sold the property and used that money to buy 1-3 investment properties. idk your market but in mine that extra 150k could easily buy 4 (maybe 5) properties that would cash flow a minimum of 250 but most likely 350-400/month.

We manage large apartment communities but just not structured to manage SFRs and we won’t take those on.What’s included in the fee and what’s going to be extra?

After the 2 year "has to stay primary residence clause" (which is met this coming Feb) this property would be my first rental in the area, and utilizing the cash out refi, would give me the money to move into my next property without any extra out of pocket money.I'll be sure to come back and update this for any newcomers that want to hear from beginners or are still in the "learning before you leap" mindset.I'll list the purchase info and criteria as well as the rental potential in the area and the cash out refi results below.Initial Purchase:3 bed / 1 bath / 1000sqft / 0.46acre / built in 1980 - Appraised at $140,000 in Johnson City, TN - Feb. 2020Credit Score at the time: 648 (This was a focus of mine as I had been repairing previously damaging years in my early 20's)Purchase Price: $132,000 using an FHA 30-year loan at 4.625% / Closing costs from me $4,666.63 / After all fees and closing starting mortgage amount was $129,609.00 / Monthly Principle, Interest, Escrow (Insurance, Property Tax, Mortgage Insurance) payment: $869.12Rental Potential:Johnson City TN is home to East Tennessee State University and close to Bristol TN for all you NASCAR and drag racing fans.

I prefer to create more value by buying building with lots extra unfinished spaces or big dry walk out basement walk in attics, attached barns etc adding bedrooms increases cash flow quicker cheaper than extra bathrooms and adding entire apartments great too.

Have extra ground we can build about 500 moredrive up, metal units on.

The reason why the sellers ended up agreeing to my offer was I let them stay in the house for an extra month.

In my part of the world the good PMs charge 10% a month, so how many do you need to have to generate significant extra income....20-30-50, then when you get that many how much time do you spend accounting, phone calls, dispatching maintenance, etc. 

I need help with a contract for house hacking, plan to rent out both extra rooms.

Guac is always extra.

You have to document meetings, rules and do a little extra at tax time.