@Vincent Chiarelli there are many challenges investing OOS - most of which newbies are ill-equiped to handle successfully and NOT get taken advantage of.Many companies will hit you up for turnkey purchases, but you may not know how to investigate the quality of their renovations, tenant screening, etc..You could also look to BRRR, but this is where you may get taken advantage of by agents, contractors and even PMCs:(Read on for some general advice...

Quote from @Nilusha Jayasinghe: Hey all, I'm under contract for a legal 2 flat + illegal garden unit in Logan Square which we want to house hack and then maybe rent out whatever space can be rented out if we move out. 

But if I did that with a hard money loan, then I'd have to get an additional loan and pay for additional loan fees vs already just being in a 30 year mortgage.Given that my projects are under a year, the years worth of interest is far less than the traditional 10-11% flat interest I'm paying with a HML.I don't need the money to fund the renovations.

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

I think a 2 flat is a duplex, is a 2 unit apartment building.

Once signed, you can upload the scanned lease into RentRedi’s documents section to keep everything organized.For screening, I believe RentRedi requires an email for background checks, so unless the mother is signing as a co-tenant or financially responsible party, you can likely skip a formal check and just list her as an occupant.

It sounds like there was some bad screening even letting this person rent the property.

Their rent payments and tenant screening are also great, but the lease and document builders are the game-changer for me. 

I have seen those on a house-hacked owner-occupied 2 or 3 flat.

Indiana’s state income tax is a flat 3.15%.