If you could invest in a multi-family and house hack, this would allow you to invest, while (hopefully) cutting down on your living expenses to save more money faster to invest in your next property. 

Not to expand on the "family dynamics" but I would personally be concerned about having to deal with family requesting access to the property for periods of time as well.

The transfer forms are fairly simple.What we are concerned about is how much will this cost us?

My plan is to purchase either a single family with the idea of renting one of the rooms to help cut down my mortgage payment.

Just wanting to make sure we are looking at everything correctly before we get out of due diligence.PP: $305,000Seller is contributing $9150 to our closing costs and we are putting 5% down.HOA is $500/year and taxes were roughly $2800 last year.HOA has no rent restrictions but does have a clause in their bylaws concerning household composition.

One of the most concerning factors is the question of how you can protect yourself from lawsuits stemming from properties you may never step foot on. 

There was the S&L blow out that wiped out 1,000 financial firms and the developers who depended on them.The problem with using debt to magnify leverage is leverage cuts two ways.

As you all probably already know, this market is competitive and we are concerned we won't find anything to fit our needs in the next 45 days.Would love any seasoned knowledge from you all.

One of the most concerning factors is the question of how you can protect yourself from lawsuits stemming from properties you may never step foot on.

We plan to continue investing there because it is a great market as far as inexpensive homes and great cash flow are concerned.