There are some people that get lucky and earn cash quickly, but they generally hide the fact that it was pure luck or how much work was involved.

Hi @Tim Holt I think in general house hacking is usually a good move because it gets you off the sidelines and into the game with the most favorable financing possible (30 year fixed).There's a lot of value in getting started today vs waiting some undefined number of years until conditions are better, which could be a long time from now, because real estate is a business and the sooner you start actually learning about that business, the better.With all that said, I always recommend that people analyze any potential house hack as a pure investment that they aren't going to live in, because someday they may want to move out and you should know up front (before you commit) whether you're going to be able to do that, or whether you're overpaying and will be stuck in the property unable to move out because it'll be cash flow negative if you do.So you had it exactly right when you wrote, "the property would need to cash flow when I move out and rent out all units."

I was able to negotiate about 10% discount that was purely circumstantial, I'll let time do the appreciating passively instead of running a 6 months construction project with holding cost.

Property was on market for about 170 daysI originally started the STR plan for tax benefits and plan to do cost segregation as i fall into high income bracket (37%+ 11% state) saving around 50k for 600k property.I have no plan to personally use the property and this is purely investmentI thought i found a great deal because properties in the area are selling for 205-220 per sqft.

Idealizing a past scenario is purely negative.

I understand the 25k guy .. and the seller carry back folks normally those I see that do that will get the amount they paid for the dirt back in the down payment and the note is pure profit.

Although we absolutely must do our comps for ARV and handle the Subs with an iron hand and blah, blah, blah....but a lot of this game is pure dumb luck.

I do not know the market very well in Gatlinburg, but from a pure investment perspective (assuming revenue is gross) is abysmal. 

Instead, you must invest in a purely passive way, such as a syndication.Second, real estate is a tax-favored asset and investing in a tax-favored asset through a tax-deferred vehicle is a bad idea. 

Also, they are purely a capital investor then they won't want to do the work and merely want to have faith in their ROI