Based on what you've said you aren't well capitalized enough to start investing.Do you need to sell your current place and buy a cheaper place? 

Look for managers with a portfolio large enough to justify dedicated support staff (cleaning, maintenance, revenue management) but small enough for your property not to get lost—ideally in the 50-200 unit range.

If you aren't 100% committed to the idea, consider joining a co-investing club and going in on passive real estate investments with a community of other investors.

At the meeting 68% of the attendees supported allowing STR's or allowing STR's with restrictions. 

A deal that can support a 10 yr fixed rate loan today at an inplace 1.25 DSCR is far safer than a floating rate bridge loan at 1.25x DSCR due to a significant rate cap purchase.  

What do you think, is it worth following up on this or does the market not support this house hack?

For a first multifamily, I focus on the numbers, rent potential, expenses, and cash flow, and whether the market can support steady occupancy.

I’ve also set up a GoFundMe to help offset some of the legal costs — I’m happy to share the link via direct message if anyone is interested.Appreciate any insight or support from those who’ve been through a similar nightmare.Thanks,Matthew So if I understand this, you are the lender and sold it via a CFD to a borrower who owes you $18k in missed payments and you are in legal. 

Have you ever needed support and how responsive were they? 

Michigan’s investor taxes aren’t fun, but they’re predictable, and Grand Rapids has proven to weather downturns well.