I’m not sure if they have factored in the cost of the other rents though- do they wait to do that until you’ve found a place?  

Time is a big factor as I don't have time to do all the work myself, but I would have time to contract out the different pieces of work that I won't have the bandwidth for.

@Dhwani Shah You should probably break down the calculation and list out the expenses you factored.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

@Cassandra Alessio I would say California money is definitely a factor.

And vacancy is non-factor as we are running our numbers off of gross rental income so vacancy doesn't factor in.

I'm a young guy (not letting age become a factor) who's looking for his first deal.

A few months ago I invested $850 for a 1000 strong mailing list with careful demographic targeting for years in residence, SFH home type, amount of equity in the home, and correlated with an increase of crime in the area (as crime is usually a major factor in getting people ready to sell and move). 

Check with your agent and/or shop for the pricing of that new policy to factor that into your calculations

A key factor for him was having the ability to close on it and delay our possession for a couple months to give his family time to finish school and get ready for the move.