First Investment struggle
Hello,
I've been searching the market for my first investment and unfortunately I'm struggling to pull the trigger. I had my first deal under contract but it was a short sale and died two days before closing. Long story short the seller was once married and the ex-husband didn't sign off on the needed documents.
Ideally, I would like to house hack and live for free while making at least $1,000. Im starting to think maybe my goal is too big I'm not certain. Well, in my market I can probably find it but the area would be pretty bad. With these areas run the risk of having problem tenants. However, section 8 tenants would be guaranteed money.
Im stuck deciding between taking advantage and getting some cash flow coming in or setting myself up first to live in a decent area while breaking even. All while saving up to fund the next deal. So many options and I'm stuck deciding on which to follow. I lost money on the first deal so currently I'm saving back up to get going again. With low down payment and requesting a seller's concession I'll be able to speed up the process. However, if I wanted 3-4 units then I would probably struggle since I wouldn't have the reserves.
Open to any advice out there.