I'm just starting down what I hope will be a similar path, looking to do a 203k rehab and house hack, ideally in Dorchester.203k seems like the way to go but I want to be sure I'm working with a lender & agent who have experience with this type of financing.Sounds like you've found a lender who is working out well?

- When would be the ideal time for closing to occur?

I deal with highly affluent people and the relationship and trust is everything to them.Everyone has freedom of choice to run their business how they see fit but this is not my cup of tea.

My thought process is that if I can find a property with better ROI with leverage vs cash then this would be ideal because I also get the tax benefits and keep extra cash for future investments or enhancements.

This might be ideal for you if you are looking to house-hack and get some college students to rent from you.

.- £4000 left from small inheritance that I ideally want to use towards holidays before I'm 30 but again, I'm open to other suggestions if it helps the cause.My goal is to make at least £8000 per month in cash flow once all expenses are taken into account (including principal repayments) by the time I'm 40 on a part time basis while I hold down a full time job.

If you have a bank or ideally a specific banker that you recommend, please let me know.

Bad" market areas, which a number of people might include South Providence and Olneyville in, tend to be much cheaper, so the returns are better - but properties in those areas also tend to be much more management intensive.If you're going to be managing yourself, which is a very good way to get familiar with an area, I'd say stick within 1/2 hour (ideally 15-20 minutes) of wherever you're going to spend most of your time (home, if you'll be retired).You'll find very quickly that before you know it, you'll probably develop the Rhode Island mindset of not wanting to drive too far, and it's just easier to stay on top of properties when they're closer by.I'm much more familiar with properties in the Warwick/Coventry/West Warwick and north part of the state, so if you know you're going to be centered around Newport I'd suggest connecting with some people specifically around there.

Does it tie into the Biggerpocket ideals and methodology?

The terms are ideal, the investment package is high risk.