I read that those people generally offer around 70-80% the marketable value, so I could potentially pay $900 for a house worth $60k and sell it to them for maybe *hopefully* $25,000.

A good example might be a property with rent potential of $800 but smells like cat pee and looks horrible. 

Enforcement is usually handled thru complaints from the other potential owner occupants or investors that missed out due the misrepresentations made by the buyer

Hi guys,Wife and I have found a potential duplex house hack.

I am ready to build my own financial freedom and am focusing on multifamily properties with value add potential.  

So there is some potential for a BRRRR there but I don't have the funds at the moment.

Have you done a rent survey of competing area properties to verify that.I would also caution you against the 100% financing unless you have a bunch of reserves to handle potential issues.

OR, do I do what makes me FEEL more comfortable because it’s familiar; and rent out my house, buy a bigger more expensive house that has potential to rent out a little casita that’s attached to the house for added income?

I agree with the other users try to house hack because you can use a FHA loan put 3.5% down and even after closing potentially have a good amount of money left in the bank.

I saw a house today that I think could potentially be my first wholesale deal but I need some help.