Even though you are living there, that lack of rent/mortgage you would be spending to reside somewhere else counts as part of your return.

@Dolina Maharjan The Waldo area here in KC can be really great for LTR's and STR's, though it can be hard to find good deals as this is one of the most competitive areas of KC for investors.

I am not able to qualify for a traditional loan due to my lack of job history.

Competition for the property was fierce but we were blessed to get accepted.

Nonetheless this market is highly competitive depending on the exact local area and prices.

In competitive foreclosure markets unless there is illegal collusion at the sale these props rarely sell for opening bid. 

We ended up finding a great 22-unit property at $5.2mm.Since we are in a competitive market, we wanted to offer the quickest closing possible, so we made the decision to go on margin to make up for the other $3.33mm as a temporary bridge loan and offer a 22 day, all-cash offer.

We ended up finding a great 22-unit property at $5.2mm.Since we are in a competitive market, we wanted to offer the quickest closing possible, so we made the decision to go on margin to make up for the other $3.33mm as a temporary bridge loan and offer a 22 day, all-cash offer.

I've definitely settled on the house hacking strategy, and with the lack of multifamily inventory it looks like it will be a co-living situation.

This particular property provided a relatively higher cap-rate, competitive price/sf, is well maintained and newer construction, has full tenancy with NNN leases, and is situated in a rapidly growing area.