Long time BP podcast listener, first time posting...I'm under contract to purchase a primary residence in Bergen County and there are significant exterior defects.  

While we do not have a lot of cash on hand that we can use right now (around $30k), we would qualify for at least a $80k HELOC, and I would also not be opposed to loaning against my 401k as I have maxed that out every year since I entered the work-force after college (10 years ago).I'm continuing to read these forums and just started listening to the podcasts this morning. 

As opposed to buying a building which requires renovations, which we all know, always lead to the unexpected surprises located in the walls or foundation.  

J,I agree - there are some savings when you own one building as opposed to 20.

The HOA also covers all exterior to include the roof.I am living in it for the first year and then plan on moving and renting it out afterwards.

The beauty of the house hack model is that you’re able to get such low interest rates and put little down as opposed to investment properties.

I don't even know where to begin when it comes to real estate as a career (as opposed to as an investor).

If I buy a cheaper property between $300,000 and $400,000 I may be able to buy it in August as oppose to October.Would you guys wait until October and buy a more expensive property $500k-$525k and purchase in October or buy a cheaper property and purchase it in August ?

We waterproofed the one side from the outside, and put a cement based paint on all of the exterior walls hoping that it would help with moisture, which I think it has about 80%.

Our current home is a nice home in a nice neighborhood, but it was purchased as a family home to raise me and my sister as opposed to something that my parents truly loved.