The seller needs moving money, there are oftentimes an arrears that has to be paid on the loan, there are oftentimes HOA fees that are due, there are title costs, there are escrow costs, usually there is deferred maintenance, you have to make mortgage payments out of pocket until you get a renter in there, you have to pay utilities and taxes, and you need reserves in case it all doesn't go as planned.3.

All things to consider. 5) how do you plan on managing the property?

Currently submitting final plans that include Architectural and subdivision approval.

I would say only if you plan to use the property for another purpose or if the property is really cheap and fits within the building guidelines. 

House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place.

I have actual never heard of the group, I looked them up and plan on attending it within a few months after I finish college(I'm currently in the upstate).

We were not educated in the work and financial planning for such an undertaking.

I’m not planning on staying in this home for more than 4 years and when I’m ready to move I’m either going to sell it or use it as a long term rental. 

with hard money you're going to pay interest on the loan, which can be pretty hefty, especially if the rehab goes longer than planned. 

.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.