Why not just go with a straight up loan? 

That being said house hacking is still an incredible tool and just because you don’t cover the full 100% / can’t quite cash flow positive you are still mitigating the vast majority of your families biggest expense while getting into an awesome business, building equity, having a shot at appreciation etc!

Show them you are serious about not only investing in yourself, but in their local community.The BRRRR method is not a passive venture, but you will learn A LOT about the necessary systems, communication, and tools needed for every part of a BRRRR.Before & After Pictures:

The property analysis tool shows two different categories for the “cash on cash return” and the “return on investment”.

It’s just a tool to use for value, but like everything nothing replaces the actual analysis of a property to ascertain true value.  

A few of them straight out vacant.

There’s no short cut to figuring out a plan and finding the tools to bring it all together.

Finally, BP has various tools available to help you analyze your deals (rental, flips, wholesale, etc), feel free to use them: https://www.biggerpockets.com/investment-calculators Please let me know if I can help, and best of luck!

The carpets are my biggest concern due to the horrible smell, do I need to attempt to clean them or can I just go straight to replacement?

Additionally, HELOCs are a great tool.