I have 20k saved and plan to use an FHA 203K loan and house hack to net zero/cash flow minimally on my first investment.

What happens to your plan if the home price trend turns negative?

Since you self-manage, create a shell property management LLC and run your rentals management through it, charge yourself pm fees, thus generating self-income, thus being able to open Solo-401K where you can contribute 56K+/year tax deferred  (you will have to pay self-income tax, but might end up better than paying full tax on rental income...check with your CPA as this requires planning).

great idea...i should be more specific on the terms with what i plan to rent to see what can be worked out by the lender

I have 20k saved and plan to use an FHA 203K loan and house hack to net zero/cash flow minimally on my first investment.

we don't plan to sell the 2nd lot, at least not as soon   there were costs involved in buying the lot as well - where would they go?

If the tenants are willing to discuss a payment plan or move-out arrangement, consider exploring these options to reach a mutually acceptable resolution.6. 

Current plan: working W-2 job around 140-160k/year.

I have started to develop my plan and know I want to House Hack a small multifamily property as my first investment.

.💫 My plan is to invest into a duplex or a single family house with existing ADU.🏠 I got interested in real estate investing after listening to financial independence podcasts a few years ago.