I'll attach the original questions here just for ease of answering them:1.

For ease of math, let's use a property that is worth $200,000.The HML will likely lend you about 75% of the ARV.If the value is $200,000 then the HML will lend you $150,000.So if you can BUY and REHAB the property at $150,000, then you will have ZERO out of pocket. 

Ease of process?

For the house that I'm currently in escrow on, I plan to rent as a traditional long term rental simply for ease.  

Taxes get passed through to tenants to the extent market forces allow.Property taxes also help insulate against rapid appreciation in a bubble environment like in 2004-08. 

Enjoy the process "house hacking" is a very comfortable way to ease into this market.

This gives you best of both worlds, the flexibility and ease of a DAPT with the power and strength of the Cook Islands if and when you need it.

You can soften the burden by giving them paid cash jobs here or there but other then that, believe in them to be strong as they have been and to get through it. if they really can’t get that $$ Discuss letting them out of the lease early to ease both your financial burden and so you can get a tenant you won’t lose sleep over.

I would look in Morris County and environs. 

My current day job is consistent and provides such a healthy environment for me mentally, physically and financially.