Small towns may rely too much on a single business or market segment.

For me to take that risk, the upside would need to be high or I have a solid plan B.I am unsure you know this nuance, but JADUs in the state of CA require owner occupancy in every jurisdiction that I am aware of.  

Unless you are part of an investing contingent with a bunch of other landlords with Trenton holdings, like the "Brooklyn" folk, I feel if you are a landlord living 1+ hours away with the plan to have 1-3 properties in the near term, you will get ripped off.

I'd also find a real estate agent who knows the house hacking strategy or has house hacked themselves if you plan on using an agent. 

There will also be many unknowns that you can plan for or build a cushion if an assumption is wrong.

.: @Jenat Higaa true 'private' lender is someone you know - your dentist, your uncle, someone you work with, someone in a business mastermind with you.so if you need to 'vet' a private lender... they're not a private lender. 

When did you finish building the home and when are you planning to be done with current renos?

I’m just starting my RE journey so I know my taxes aren’t very complicated, but still I wanted to use a professional and invest in proper tax planning from the start.

However, we do plan to look at a few properties before diving in. 

We have been in business for a decade and we haven't seen anyone get financing on properties that are valued under 70,000.