Every deal is different and so are the type of fees charged and the amounts.

In house hacking, I believe the idea is to buy a property (single family or up to 4 units) using a conventional fixed rate loan with a low down payment and then to live in it for the required time and move on to buy another property the using the same method.

The 4th unit the tenant pays late every month and has accrued a lot in late fees (previously owners charging $5/day in late charges).

The 4th unit the tenant pays late every month and has accrued a lot in late fees (previously owners charging $5/day in late charges).

Most people people are doing small flips or small multifamily investing, and are doing deals with their own capital or a conventional mortgage (Not using private money). 

You can do this for free (don't charge them) and explain this is just because of change in ownership. 

He also works deals with his tenants to leave the gas and electric and water in his name if they need him too and then charges them $5-10 a month plus the bill for their rental.

My question is I do not have a large income ;) and most of it is 1099’d ;) so it is hard for me to obtain conventional loans via a bank.

Didn’t mention the $10 billion in hotel and convention center building over the next couple years as those things come and go.

Now I am getting charge .8% more interest for it being an investment property rather than owner occupant.I remember when I bought my first home with an FHA loan the lender looked through my bank account and grilled me on any type of income coming in.