Investing out of state is a challenge in of itself, doing a 60% rehab when you don't have a team of people with knowledge really complicates things.

How do they compliment or complicate each other?

Take the risk and invest big bucks to get bigger bucks or do something minimal and get out fast with less money but also less complications?

Let me give you some background of where I am in this ever so complicated journey.       

But given the current climate and this new provision it really doesn’t pay to take unnecessary risk.What impact, if any, will this have your business?

Further complicating matters, when I sat down with my bank to discuss conventional 20% down commercial loans, they were interested, but said that I must not live in the property.

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.House hacking will complicate your tax return. 

I would also entertain the idea of investing out of state, but i'm sure it can get complicated very quickly, especially as a beginner.

The listing includes two residences on 2 adjacent properties for $600k:Lot #1 has a stick built home on 5 acres (I plan on living in this residence)Lot #2 has a detitled mobile home on 15 acres (my parents will live in this residence OR I will rent this residence)My income is ~$200k, 700 credit score, and I plan on putting $120k down.It's my understanding that qualifying for a single, "conventional" mortgage for two residences can be "tricky"...and that the presence of the mobile home could further complicate matters? 

@Jielu Zhao,The question is a little complicated.