If you start with a duplex/ multifamily or house with a walk out basement, ADU, granny flat/ in-law suite type situation that functions like a multifamily, you can have a very civilized lifestyle and still get all the advantages of house hacking (lower down payment than investment property loan, lower interest than investment property loan, first time home buyer programs, offsetting living expenses by having housemates help pay mortgage, principle pay down, tax benefits, forcing appreciation through value add “live-in flip”, and avoiding paying rent which is 100% interest and just wasting money as opposed to investing it).  

Taxes are largest expense anybody will have in their life and income property was the most tax favorite asset in America and there’s so many other reasons it’s great besides taxes, but don’t get bored with this tax stuff.

Used Google Sheets and the PMT function to calculate the below assumptions:Monthly NOI: $1,586.60Divided by 1.25: $1,269.28 paymentLoan Value: $164,453.66Downpayment: $54,817.89Price: $219,271.54I know the owner of this property and doubt they'll sell it for less than $600,000, so it's not going to happen. 

Doesn’t need to be high-end, just functional and clean.For rent comps: Furnished Finder and Airbnb (filter 28+ nights) will give you MTR rates.

Secondly, the appraisal often notes functional obsolescence because of this and a lack of a common area.

Minimal-rehab preference fits Toledo better than you think.A lot of cash-flow deals in Toledo work because the operator buys something that’s already functional, not a full BRRRR.

The marketing functions is where the very host cost comes in.

Interior design conversations count if they’re about functionality/guest experience, not aesthetics for personal use a quick note in your log like “layout planning for guest flow” is sufficient.

Use the search function to find many discussions on sheets.I think there are popular ones on Amazon and at Khols.

Obviously your goal is to widen the spread, so focus on what you can control  Expenses are also a function of market, as some of my properties have taxes at 65% of total expenses, while others are 15%.