It allows those who have other gigs more flexibility.

Also, you're VERY flexible on improvements made, to include adding pools and built-in outdoor BBQs (not that you would, just saying...). 

I feel my criteria is a bit narrow for what I will be looking for so I am going to be flexible to the location.

no debt provides piece of mind and financial flexibility. 

Another option would be to look for SFH opportunities, since there still more flexibility with regulation there.Let me know if there are other ways that house-hacking in Oakland can work. 

I would think if you're in the U.P. there is some flexibility.

No Office ConstraintsAlong with the freedom of a flexible schedule, property investors enjoy leaving behind the constraints of an office job.

The fact that you're flexible in location definitely helps - as the numbers will look completely different from city to city.

If you file your second mortgage with the county and want to refinance the property later, you lose flexibility because your note would have to be satisfied to close a refinance. 

Generally speaking, you'll get a higher interest rate and more flexibility with a HELOC.With a HELOC, you pay little or nothing up front and can borrow or repay whenever you want, up to the limit.