Yes, I'm a noob, but I've only ever heard of PMI coming off once you satisfy equity requirements.

We are doing everything we can to hold off until then but with the increase in taxes, insurance, and debt; it's really getting difficult to be able to wait it out.

I don't want to get too deep right off the bat, but suffice it to say that you can find a way if you're interested. 

Furthermore, if numerous investments are utilized from one debt (loan), the interest must be utilized for the same investment and filed accordingly.Business investment interest expenses follow the same general guidelines but do become more involved.

If you itemize your taxes, this may be used as a write off (I am not a tax professional, so please consult with your tax preparer/cpa etc etc).

Is this what's left after paying the mortgage or are they paid off?

First off, MANY wood floors are not hardwood floors.

Hi Enos, It sounds like you're off to a great start with your house-hacking strategy in California!

I have paid/settled everything and have few credit cards and my fico is in the low to mid 600s.I have pretty decent income ($400K+) and am interested in starting off small.

Also, full disclosure - I have utilized creative financing & transaction structures (installment sale transactions, had the seller take back 2nd position notes, baked brokerage fees into the agrement of sale  in off market transactions to name a few), so I am not opposed to it, but they were utilized in very unique and circumstantial land entitlement transactions.