Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

I have been trying toe get a list of the IRS discriminate function indicators to no avail so I'd like to know how you can say that home office no longer concerns IRS.I was just making the note that broad stroke for everyone to add spouse, kid etc to create a partnership has other considerations people need to be mindful of as well. 

Sadly, both of them escalated this conflict and started creating domestic disturbances so we had to move both of them out.Assuming the upstairs family is being reasonable, I suspect no matter what you do, the people downstairs will never be happy.  

Now I know there are an army of people that are going to tell me that I should have done my own screening of the public records, and all I can say is I know.

Each agency has slightly different criteria and limits but the process for setting rents is roughly the same and has 2 components. 1) The tenant voucher is based on the tenant’s specific finances and number of people within the family unit.  

That level of being locked in like that, that's been the number 1 indicator I have seen working with all the people I previously mentioned of who is gonna make it, and who's gonna flame out.

Quote from @Juan Castillo: Most people "dream" of investing in real estate.

To get to the ARV of $250,000 , I am assuming as follow:Because you spent $15,000 in renovation, I am assuming you increased the Initial value of the property at 30,000 bringing it at $230,000Add a 8.69% home appreciation for one year $20,000Estimated Home Value After 1 Year:$250,000Refinancing Breakdown:New Home Value (Post-Appreciation): $250,000 New Mortgage Amount (80% LTV): $200,000 Existing Mortgage Balance after 12 months: -$158,035 Assuming 3 Months Interest Penalty for Breaking Existing Mortgage: - $2371Total Cash Pulled Out: $39,594, allowing you to recover to pay a portion of your initial investment of $63,548, leaving $ $24,015 in the deal.Many new investors mistakenly believe the BRRRR strategy ends after the cash-out.

I focus on mid-grade quality items that are durable and pleasant to use yet not so nice that people are tempted to swipe them and are then expensive to replace.

I haven't dug into the actual agreement, but was curious because I'm not in a position to house hack, but see many people on here recommend the strategy.