They use these savings as a down payment for their first property.House Hacking: House hacking involves purchasing a property, living in one unit, and renting out the others to cover the mortgage.

Do you mind sharing how you found a reliable contractor?

To combat this, I did a 2-1 buydown to temporarily lessen my monthly payments.

I think (emphasis on think) I have found a deal for me but here is my situation: I am a recent college grad with no 2 year income (just yet) and I came across this property inHamilton, NJ, in which i need between 100k - 144k after all costs (rehab, closing, 20% down payment) I do not have this money as a 22 year old, so I naturally wanted to get an FHA loan but the problem is, its a quadplex that has all units occupied, so i cant really live here because there would be no space, unless there is a way around this.

I found a property that cash flows around $100-$150 in Bakersfield, depending on the interest rate, but I am wondering if it is a good idea to take this and run with it as a first rental, in order to be able to cash out refi in the future to be able to put a bigger down payment on a mult-family property.

Any reasonably priced and reliable recommendations? 

Make sure their deposit and first months rent payment clears before you give them keys or allow them to move in.

Does he have a lambo payment to make?  

Let’s dive in further.Appraisal ReportsAppraisal reports provide the most accurate and reliable information for calculating the land value.

I always ask if the seller if they are ok with me taking over their payments and I can get them some cash.