I just joined the forum after listening to a couple audiobooks written by former BiggerPockets hosts.

If you are doing a live in flip and can do it knowing you will be refinancing no earlier than 12 months and can cover the HELOC, mortgage, expenses of flipping and any other items that come up (repairs to the other unit, and vacancy) you will be good.

On top of that, HOA fees recently jumped by nearly $200/month—bringing the total to $649—which has completely wiped out the little cash flow I had left.

I had four at one point and converted them back to sfh.Challenges to be aware of:1.  

Every $ you convert will be added to your taxable income.

This was a costly venture that, combined with several months of lackluster performance, did not allow for distributions to our shareholders.

When prices are high, fewer people can't afford to purchase so they are forced to rent.

I feel like it would work to charge a small subscription fee to have a company on call, then have a list of tasks they will do at a set cost and let the landlord choose which they would want to outsource. 

@Ryan Cousins not sure if you are still looking or not but the market has changed from where it was 7 months ago. 

They are the first WED of every month in different locations and are always listed on BP.It may sound ideal, but for most people new to the game, the numbers don't like how they thought they would look to house hack in North Jersey right now.