Hey Chris, house hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place.

So i guess what i was trying to say was its the highest median income as well as the safest ZIPCODE in that county?

You can consider buying rental properties for steady income and potential appreciation, do house flipping for quick profits or explore REITs for a more hands-off approach.

., depreciation offsets current cash flow and defers income recognition until disposition) and so are the retirement accounts (tax paid in retirement when distributed) so the tax burden on the money you are borrowing is likely not to materialize for many years.The delta between the 9.5% interest rate and 8.3% average return on the existing retirement account would result in more funds in the account if you take out the loan.

I haven't been able to renovate the property like I had wanted (and thus charge higher rent) but it is income producing and we have a good relationship. 

If the in-place rents generate don't generate enough cashflow to cover your debt service, you'll want to plan to bring additional equity to the deal to cover the shortfalls.

Having the S-corp also helps with "real estate professional" status and could potentially give you limited active income for specific write-offs and an ability to contribute to a retirement account.

I had wrapped my head around residential not around commercial, But to me the deal seems amazing - you guys tell me 8000 sq. ft building7 storefronts on an active downtown street (all rented and currently have tenants)34 unit mini storage in back lot (29 units rented - the rest of the unrented are being used by the current owner)Asking price is $798,000 and owner is ok with seller financingAfter sitting with them today the owner who is 83 said he is ok seller financing and verbally agreed to $715,000 and a 4% interest rate, 30 year note, $100,000 down payment, no early payoff penalty - my lender and real estate agent both came back valuing the property as it sits at $840,000Income = Rentals ($5075) Storage Units ($1935) = $7010speaking with the owner he hasn't raised the rent on either the storefronts or mini storages for almost 10 years - looking at comparables in the area we believe we can raise the rent and storage units easily to push the income up to $10,000 a month 4 of the 7 Tenants have been there 5 years plusCost = Including estimated payment, taxes, insurance ect. would come to a monthly of = $4450that would cashflow $2560 a month at its current with the potential after purchase and rent adjustments cashflow $5460 a monthPending an inspection the property looks in good shape with little to none improvements needed at this timeA quick background I have had rentals before on the farm we own, three houses we rented out so I have some experience) My QuestionsIs this a good deal???

As a landlord with numerous Section 8 tenants, I can attest that participating in the program can be a great way to secure reliable rental income.

Here are some harsh truths for you all.The problem with people having problems with how to wholesale is that they have no clue what their problem is.They all ask questions about how to find cash buyers, how to do cold calling, how to do DMM, how to wholesale on the friggin MLS.The one simple reason so many have problems wholesaling successfully,  is because they don't understand that when it comes to wholesaling and anything REI, it is all about lead generation.Lead generation is not about targeting motivated sellers.