Property has been listed for 15 days. few highlightsperson 1: score 402Accounts Ever Late: 3Time Since Late: A monthCollections Accounts: 10Civil Search: considerEVICTION RECORD: file date - Aug 8, 2014EVICTION RECORD: file date - May 27, 2015person 2: score 551Accounts Ever Late: 1Time Since Late: All clearCollections Accounts: 5On the other side, they both combined making income 3 times the rent amount.

Purchase price: $322,000 Cash invested: $5,000 Combining the strategies of 'house hacking' and 'live in flip' I am living in the main part of this home (3BR, 1BA) and renting out the apartment unit (1BR, 1BA) to cover the 'ITI' expenses on my home.

Decrease in acceptable combined loan to value ratio, from as high as 80% to as low as 65%

But a combination of wage gains and declining mortgage rates are helping to override the increases and make homes more affordable in large swaths of the United States.

By subtracting the debt balance from the value, they can see what your equity position is on each property, and combined.

Many folks will combine your second strategy with the 1031 and do a cash out refi to pay themselves back. 

@Jake Waslaski, I think you need to rework your numbers a bit.I use 15% combined for Repairs and CapEx. $25k renovation isn't going to mitigate those costs too much over time.Insurance looks VERY low.

Ultimately you are combining two strategies: flipping and long term hold, with a refi in the middle.For the flip piece: if you can buy, renovate and create enough value, you will be fine. 

For financing, my partner and I have our options open for any combination of hard money, private money, FHA, and/or some of our own capital.  

@Zach Adams, for the time being, let's assume you can get it for $50k and do the reno for another $50.I'd be a little nervous about only allocating 10% combined for CapEx and Repairs.