Purchasing a 4 bed at my max approval and rent out 3 rooms, or purchasing a 2 bed below my approval amount, rent out 1 room, but have a jump start on my next down payment.Please share any other suggestions/ advice/ stories on house hacking you have :)

The market is saturated with 6 bed facilities.

The market is saturated with 6 bed facilities.

I am looking for a SF, at least 2 bed, for buy and hold.

Smaller units (mainly beds) have higher turnover and more out of pocket maintenance cost.  

Plan to make 5 units of mixed efficiency’s, 1’s and 2 beds

The deal is:5 - 2 bed 1 bath units renting at $500/ unit at full occupancy currently with month to month leases.

Depending on the deal and if you can get a duplex with a 3 bed, 2 bath in each unit you may be able to get between $1,200.00 to $1,500.00 per side for monthly rent.

I actually found a neighborhood within an hour of where I live where you can buy a turnkey property 3 bed 2 bath for 100k with the right agent.

If the finished product you end up with is very similar in square foot, bed/bath count, fit and finish, and you get an appraised value of at least $100k, you should be able to get $70k, I have a few banks that could lend to you if your personal credit is good too.