If you are looking to buy something off of the local MLS - you might find that is going to be a challenge.  

The bigger challenge is likely to be financing, fnma, freddie, HUD aren't going to touch that - giant marketability issues.  

If not, then you could challenge the fine.

Cash flow is king and that is my primary focus, however, I'd love to build a legacy (and equity) for my children and grandchildren as well.  

Is it ok to house hack with 2 children in the house? 

More specifically, I'm trying to see if I can properly leverage a new Coverdell ESA IRA for each of my 3 children ($6000 per year) and use a 100% return as distributions for a private school within the next 4 years.BTW, Thanks again for the explanations!

Hi Virginia BPers -My father in law passed away last week and the children are trying to sell his house.

If you'd like to download it for yourself, play around with the inputs, or challenge my assumptions and model, you may do so in the BiggerPockets fileplace here:https://www.biggerpockets.com/files/user/ScottTren...Hope that helps!

It's pretty challenging to put a deal together when you have absolutely no idea what's going on with the other side or with the property.

It can be so easy to use all of the hardship your facing as an excuse NOT to be successful, but I'd challenge you to view it as the opposite.