I plan to upgrade to 2 bathrooms after the cash out refinance.

My plan was to acquire a property through owner financing, and find someone whose goals align with what I'm trying to accomplish and have them cover the down payment.

@Alison CromwellIn order to obtain a flip loan with no consistent income history, the following steps need to be undertaken: create an impressive credit score, put aside more funds as a down payment, check out new methods of getting funding besides what is available from banks or other financial institutions, involve yourself in investments with toughened entrepreneurs, show how financially sound you are by doing things such as getting enough money into savings over time through frugal living habits or accumulating valuable assets that can be readily converted into cash when required among others like developing several stable sources of income or steadily growing one.

Go get your financial dreams !

We have flirted with the idea of section 8 tenants, but are leaning towards a more traditional long term rental plan.

I plan to get a 3 bed with a garage which I will live in, and rent out the bedrooms.

Do you plan on doing the work yourself?

The advisor is saying that I have a lot of debt and wants me to focus on paying off some other properties with the next 10 years, I plan on retiring at 65.  

We try to work out payment plans with tenants and are mildly successfulWhat are some rules and trends you have regarding rent collection?

House-hacking is still a good tool, but in many places it is no longer the "no-brainer" best major financial step that it was several years ago.