And solid footing on what to expect and what could potentially go wrong. 1) My tenant had previously been a technician at Rainsoft. 

Everything is negotiable and everything depends on what expectations the parties involved have.They could look at it as loan.

If that's the case, then I'd think you would be responsible, in my opinion, since you can't really expect the buyer to go into the crawlspace to inspect items like that. 

Feel free to PM me to have a one on one conversation about your investing goals, expectations and opportunities.

Let's try to walk through your scenarios here | My responses in bold House hack live in one unit rent free | Very possible in some marketsMake $1k net per month | Usually feasible for triplexes and fourplexes in some markets, but you'd expect to have some value [Note: A deal like this are still out there, but are not the standard)Have 30k-40 equity after rehabbing the property | If you find a value-add play2-4 unit property | Yes, those you can find, no problem (market specific, again) Now, Mario, when starting out in anything (REI included) you have to be flexible and willing to sacrifice because if it were easy to get $1k/month, then a lot more people would be real estate investors. 

If you are expecting 1 month vacancy per year you need to input a 8% vacancy rate making a $2,200 rent actually about 2025; if 2 week vacancy per year your rent will be around $2,100.Best of luck to you!

How are people paying so much and expecting to profit? 

I know if you are like me I expect everything now and I believe God doesn't let things happen on my time schedule because I really do need to learn to be patient and trust that if I do things right eventually everything will fall into place.

If you think you’ll struggle with the interest payments and don’t expect an increase of income, then you’ll want to think twice before signing on the dotted line.Banks can also “call” a HELOC.

Thanks Robert, everything is working out better than I expected it to.