House hacking is an excellent strategy for beginners, and it sounds like you've done your research and are ready to take the next step.When evaluating your first investment property, here are some key factors to consider:• Location: Choose neighborhoods with high rental demand, low vacancy rates, and potential appreciation.• Property Condition: Assess property condition and potential renovation needs.• Rental Income: Determine potential rental income for each unit.• Expenses: Estimate operating expenses including property taxes, insurance, utilities, maintenance, vacancies, and property management fees.• Financing: Explore options like FHA loans, conventional loans, or portfolio loans.• Cash Flow Analysis: Use a tool or spreadsheet to calculate projected cash flow.Based on your estimate of $300 per month in cash flow, make sure to verify that this aligns with your financial goals and risk tolerance.

The potential issue would come if you were needed to use that income for a property that you purchased recently enough that you have not yet had to file tax returns showing the income.

Your closing attorney should also be able to advise what documents to source for in place tenants to help mitigate a potential eviction. 

So, that’s legal and definitely qualifies as a good, cash flowing unit. 

This is a great opportunity to meet potential investors and get a sense of different communities.Remember to be proactive in reaching out, ask questions, and be open to learning from others.

These include higher occupancy rates compared to short-term rentals, reduced operational hassles, and the potential for a stable income that can sometimes rival or exceed that of long-term leases.

However, I also see it as an opportunity to potentially pass on risk (maintenance/upkeep/repairs) to an Airbnb host, assuming insurance coverages work out, and/or ask for a premium on top of what I listed the unit for.

Hey Liad - Condos can pose some challenges mostly due to monthly association fees, limited control over the property, and potential for slower appreciation compared to single-family homes.

@David Denney, you've got another potential problem besides the 1/3 partner that you're keen to move on from. 

When evaluating rental properties, aside from school districts and convenience, consider factors like neighborhood amenities (parks, restaurants, shopping), rental demand, job market trends, property condition, potential for appreciation, and rental income compared to expenses (including taxes, insurance, and maintenance).