You would keep the loan in place and essentially pay her mortgage for her. 

You're essentially taking a 10-20% loss on day one. 

Wouldn't you assume that it would be MUCH less than that considering we are getting all the construction loans and essentially carrying the risk?

There are no shortage of lipsticked pig properties out there, and learning to spot them is essential for successful RE investing...we're all susceptible to "shiny object syndrome", but being aware of it is the first step to avoiding it!

Because, house hacking can produce great financial returns, it teaches you essential RE investing skills, but (compared to more advanced strategies like BRRR'ing or wholesaling), it is comparatively lower risk, simple and beginner-friendly (and therefore has the highest likelihood of success).More specifically:1.

You can easily pull these types of lists from your county appraisal district or 3rd party services. 

This area of NJ is an up and coming artsy district, but I agree I’d rather play it safe with the vacancy rate.

To me, walking the neighborhood and meeting a tenant are an essential part of the underwriting process.The seller was very forthcoming throughout and had been operating a solid business.

It's located in a low income area; the Airline district close to the airport

So the special key still remains usable on their deadbolt, but essentially we just made it a 'smart' lock?