Make sure you truly understand the rules & codes.

I know that Seattle tried this back in 2016 and it was ruled unconstitutional earlier this year.

Some banks have rules like, you can't resell the property for 3 months.

Purchase Price - $70k-85kCash Flow Per Room - $375Property Tax - ~$700 & Insurance ~$500NOI (50% rule) - $750ORNOI: $1500- $105(7%vacancy) - $120(8% PM) - $150(10% repairs) - $58(Taxes) - $42(Insurance) - $250(utilities) = $775Estimated ARV(current w/ ~$4k of work) - $85kEstimated ARV(w/ ~20k of work) - $115k--Will most likely wait to do this until later on since it will only be college students renting Mortgage 30yr & 5% rate(5% Down) - $485/mo(includes PMI)@Andrew Whitacre @Salvator Migliore

If it is disability based on a disability that will end  (e.g. not ruled permanent) their income could end completely, yet they may have not job or income in the planning.Also ask about visiting grandkids, long term grandkids they have custody of. 

If you were to give me something like that, I know exactly where to look and how to rule out a good portion of the lemons. 

I've ruled out house hacking for now, but I agree that it's better to start small, get my feet wet, as this is still new to me.

You'd need to buy at just over the 1% rule and be careful not to get sucked into the D neighborhoods usually marketed at 12% returns though as it will push your expenses up.

@Richard SnyderThe first thing is to determine whether claiming the real estate professional designation will benefit you.If your rental tax losses are below $25,000 and you make less than $100,000, you may not benefit as you would be eligible to take the same losses regardless of the designation.If you do benefit from being a real estate professional, you have to note that there are a lot of rules/record keeping required to actually get the benefit.

Conventional financing has some very specific rules/guidelines that need to be followed in order to qualify.