A brand new building with commercial space on the first floor could mean new restaurants, shops, and businesses for the neighborhood, all of which would mean the area would become a more desirable area to live, and your property price would likely benefit as a result.  

I am looking to get my first property and house hack myself, as it's such a good way to get started in REI.

Congratulations on your first rental property!

Steve moved in first.

It's all totally survivable.It will take 90 to 120 days to go through the process and then you can start rebuilding.Banks won't lend to you in the future until you clear the deck and rebuild your credit anyway (usually through small loans at first and secured credit cards.

For commercial asset classes, local credit unions can often be an excellent resource for more complicated or unique property types. 

I'm totally new at this, and this is not what I expected in the first few months of ownership. 

I've heard about owner-occupied portfolio loans on a few different podcasts but rarely see it being talked about.Does anyone have any first hand experience or insight they could share about the possible options?

Far better than anything you could have done in a stock fund or just about any other real estate investment.As someone who once had 83 sfh rentals in middle class american towns here in illinois, these str's here are without a doubt far better investments.

@Yael FuerstIf this is your first DSCR I would say yes - even if it’s cookie cutter - it’s good to ask an attorney to review and understand what you are signingAre their covenants, is it guaranteed, your attorney can review and explain all the what ifs which I highly recommend