House hacking and real estate brokering in Minnesota are financial goals that require savings, good credit, and research.

It seemed like the best fit for me, i could just start fresh and put all my money towards vehicle payment and down payment savings.

I plan to hold it forever, letting tenants pay down the whole mortgage.

I am almost completely through Planning and permitting.

Do you still live in it or plan to move out?

Thanks in advance for any recommendations or advice, what is shown on your approved site plan and electrical plan?

I have a 3 flat in Lincoln Park, Chicago, IL that I am planning to list for sale in the next 3-6 months.Currently owner occupied in 1 unit (Duplex up, 3 bed 3 bath).The other 2 units (2 bed 1 bath each) are rented.I am wondering if it is more attractive to buyers to leave the 3 bed 3 bath unit vacant when I move out, or should I place a tenant in there and then list for sale?

For the newbie investors, buy something that cash flows and plan to hold it for as long as possible.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

My plan is to have a nest egg of money for each property in case things go wrong- long period of vacancy, roof/water heater/furnace replacement.