Every deal is different, but I've found that sellers who are willing to offer financing love these deals -- though they can be hard to find and difficult to initially convince a seller to do if they weren't previously familiar with the strategy.  

Due to the rate and my love of the location, this property is a long-term hold for me as I could see my family using it in retirement.My initial thoughts are either a HELOC of Home Equity Loan.

especially if you can either purchase something in great shape and already done up, or using a construction loan but honestly I feel like the loans never end up being as great as they initially seem, and purchasing something already rehabbed or new built is honestly underrated from a risk perspective.

Consider that having a tenant 20 feet from your bedroom could be challenging for your quality of life—screen tenants extremely carefully and establish clear boundaries from day one.LLC and Legal Structure: For your first house hack where you're living on-site, keep it simple and do NOT set up an LLC initially (CHECK YOUR LEGAL REPRESENTATIVE, AS THIS IS NOT LEGAL ADVICE). 

I hunt for ugly houses with good bones, rehab them for function over flash, rent for steady cash flow, refinance to pull out my initial money, then do it again.

equity is wealth.and one thing to note is that long term rentals will not provide income initially.  

Hey BP Community,The City of Charlotte just rolled out a new initiative — the Queen City ADU Program — that could be a game-changer for local housing and for investors keeping an eye on this market.Quick highlights:🏡 Up to $80,000 in forgivable, interest-free financing to build an ADU (detached or attached).👨‍👩‍👧‍👦 Eligible for both owner-occupants and non-occupant property owners within city limits.📏 ADU must be no more than 50% of the main home (capped at ~1,000 sq. ft. for detached units).💰 Affordability strings attached: must be rented to tenants at or below 80% AMI, with rent caps tied to FMR at 70% AMI.📉 Loan forgiveness at $10K per year of affordability (8 years total), or up to $15K/year if you house voucher holders or tenants referred by city housing partners.🔑 Only one ADU per lot allowed.Why it matters:Charlotte is under major housing pressure, and this is a way the city is incentivizing “gentle density” without rezoning entire neighborhoods.For investors, it creates a structured pathway to add a unit with city support — though the affordability requirements and rent caps may limit cash flow potential compared to market-rate rentals.On the flip side, the forgiveness structure (essentially free capital if you comply) could offset the reduced rental income.My take: This could work best for buy-and-hold investors who don’t mind playing in the affordable space and are looking for long-term, low-cost additions to their portfolio.

Does it still make sense financially if you’re only renting out part of the property initially?  

And as far as my buyback goes, this fit the criteria that I was looking for not to mention being able to add in a piece of vacant land to potentially build on or sell to recoup Some of my initial investment.

I gave too much trust on their conservative approach and how these "great deals" penciled initially on paper.