They are average to lower income areas. 

I don't know the numbers on your property, so I'll create a hypothetical:Assume your principal and interest on a $300k loan is $1,263.You're sitting on the potential to get $155k (tax free, btw), but the rate will be 7.5%, taking you're principal and interest to $2,100.Yes, it's $900/month more, but you have $155k of tax free money in the bank.

They were mostly fix and flippers who worked with tax foreclosures and HOA foreclosuresI have recently been doing research on tax liens and tax deeds, since they seem like the most realistic way for me to started with real estate investing.

Whether or not you'll be able to lower your current living expenses by househacking will depend on:- the type of property- property taxes - which are relatively low in BK compared to other counties- down payment- projected incomeThat said, househacking in NYC is totally doable and most first-time househackers find success in located small multifamily properties (2-4 units) preferably with some sort of additional income potential (i.e.

The property cannot be valued in the traditional way, which is why I'm seeking a private lender who will value the property in a commercial-style method via the cap rate.Source of down payment funds: Implied equity (refi)Income Source: W2 for both my wife and IGross annual income (between the 2 of us): ~$300kMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: Student loans, rent, and what exists for this tiny house.FICO: 725Credit issues: noneThanks for reading this far!

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

I have a good income producing job, however, I have a 6 member household with teens, preteens, and children who are eating up my house like Pacman, lol. 

I am not sure if this is the right place or not but I wanted some input into any obvious issues with my lease option offers to the tenant buyer that earns plenty of income but doesn't have the cash right now and wants to improve credit before purchasing but would like to lock in the price as our market is still struggling with inventory. 

Currently, I'm focusing on building capital, saving, and investing to have more cash on hand until my next project, so for now, I'm simply educating myself on tax codes, financial investing, syndications, accounting, and creative ways to get involved in real estate investing. 

Talk with your tax accountant about primary residence 2 out of 5 years.