For sponsors, a fund enables them to offer speed/certainty in execution to sellers in what is an extremely competitive investment environment for most asset types. 

Can the rent be raised to enable cash flow? 

Mostly I find the refinance LTV combined with the low refinance appraisals prevent me from extracting all of my investment.So if you choose to go OOS here is some advice: Familiarize your self with the 50% rule.

I was tired of renting and had heard about how house-hacking can totally change your financial status and enable financial freedom, so I set out to find a house-hack.

UPDATED STRATEGYBased on input thus far, here is my updated strategy:Use cash and a construction loan (if needed) to build and rent a 4th conventional unitRefi at conventional rates (original mortgage + construction loan + up to $900K cash out for a 4-plex)Build and rent 2 ADUs using cash outBuild and rent basement ADU with HELOC, construction loan, or cash outStart an ADU building business (there are at least 1,000 homeowners like me in Berkeley - I will meet each one) BRRRR small properties or syndications to cut my teeth with any remaining cash outConsider whether selling or exchanging makes sense once all rents are seasonedUse accumulated cash flow to buy smaller properties or syndications to establish teams in key citiesKeep my eyes peeled for jumbo cash out loans to enable much larger RE investments down the roadShield all RE investments from liability stemming from potential catastrophic losses to highly leveraged triplex in CaliforniaLastly, it will take a while but I intend to report back with successes and lessons learned as I move down my bucket list.  

Search for Coliving and Co-Housing and you'll find some companies, Padsplit, Common, Bungalow,  that enable or do this type of thing. 

Send her a conditional purchase offer that enables you to wholesale it and gives you up to 120 days to close. 

I help real estate investors obtain checkbook control over their retirement accounts (via truly self-directed Solo 401k and Checkbook IRA) and enable them to invest their retirement funds in trust deeds, real estate, tax liens, private lending and any other alternative investments.

The exciting part is doing a 1031 enabling me to buy two for the sale of one and purchasing one as full cash.

If I ask them to fix the leaks and they say no, aren't we just back where we were or does that actually enable then to leave the deal?