There is a way to leverage losses from a rental property that you are actively participating in managing + you need to meet a few more criteria too lengthy to break down here in the forum post - to be clear, this isn't what you described (e.g. 

Myers with a long term buy and hold strategy, are you considering getting out of this market? 

Tell us some more about the house hack is it a true multi family or are you just rocking with roomates? 

And how far back in time would you consider someone a client?   

If he closed and now has to move in and has an attorney, he should be fine.

I am currently 5 weeks into working my first fix and flip and I am obsessed.

Many times if it sounds too good to be true it is. 5% down and 5% on a rate would be well below industry average currently

It is when a tenant and landlord put in writing factual information about them renting and both parties sign.

My wife and are implementing this "Nomad Strategy" and are about to start looking for our 3rd property here in Colorado Springs.The major issue right now is interest rates, and the fact that if you only put down a 5% DP and borrow the other 95% at a 6.5% - 7% rate you will not even come close to covering your mortgage with the rent when you move out next year.So, we found a VA assumable loan (FHA loans are also assumable) with a 3% rate and a seller who had an overpriced listing because he was pricing to break-even after paying off his debt and closing costs for selling the home. 

I'm a product of BP through and through, was on these forums figuring out how to house hack after we already were in contract on a duplex, all the way through making it the foundation of my current business.