Need to be in a good location and have good management; otherwise, you will lose money. 

Even if it seems financially attractive, factors like the property's location and condition will impact on the level of challenges and the frequency you will experience. 

I could really use some guidance on how to approach this.To provide some context, the building is in a premium location, with easy access to lakes, restaurants, bars, grocery stores, and public transportation.

Start securing financing or financing while phasing your development timeline 5. 

Consult a mortgage lender with experience in FHA loans to learn more about your financing alternatives and obtain a preapproval.Implement Your House Hacking Strategy: After locating a suitable property and obtaining funding, carry out your house hacking strategy.

My wife and I are currently looking into investing in Detroit and have secured the pre-approval letter.

I have closed some loans for clients located in China, Spain, and Japan thus far in 2024 and they all utilized embassy or apostille notary. 

Where are you currently located?

Can we locate it with in driving distance of the new Intel plant ? 

My suggestion, is you visit all these potential locations with your family, and see which area calls to you, which areas you can see yourself enjoying, and allow the STR/MTR strategy take the second seat to your enjoyment and lifestyle vision for you and your family.