If you do not have an FHA mortgage then go ahead and apply for one on the investment property. 

I would add to this account every month, allowing me to pull from it whenever there was a large repair or capex event. 

Being able to A/B test MTR at the same time would allow you to know if you can convert the STR to MTR if you ever want to move out and keep the property.As for the net negative house hacks - I always like to remind people that shy away from a deal because they aren't making money that they are usually still coming out ahead if they are spending the same or less than they would on rent.Great last point.

This meant I couldn’t pursue the driver personally and had to rely on their car insurance, which settled for $25K—their maximum coverage.Unfortunately, the crash added $77K in unexpected costs, including $41K in repairs and extended holding costs.

., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.

Maybe seller financing.But let me ask this question, what happens if in the third month the furnace goes and needs $2000 worth of repairs?

Quote from @Ricardo Polanco: Good evening everyone, I am evaluating the possibility of buying a multifamily property in Scranton, at this moment it has 2 apartments that only need cosmetic repairs and it has a big 2nd floor unit that needs a full repair.

Especially, after the storms and the loss of the projected income and they have no way to repair or replace everything that was lost.  

I stack cashflow for capex and repairs because I have a decent W2 job that I live off of. 

Mortgage rates at 7% 2. 25% down3. 10% of current rents budgeted for capex, monthly repairs and maintenance and property management fees.