This would be a lot of work with your structural engineer, but I'm assuming could have major upside.

Because you are house hacking where and why do you want to live within the major metroplexes?

@Sara ReederThat far from a major city you may have some vacancy issues.

This way your credit wouldn't be pulled but you would still be attached to the project.Also I'm not sure what hard money lender you were talking to but the majority of us can ONLY lend to an LLC or entity.

That changed when the realtor I sent in (Saunya) showed me pictures that there were some major deficiencies.

No major cost!!!

FHA 3.5% is very difficult to get accepted contract in this highly competitive Red HOT Real Estate Market across the major metros in the country.I will suggest you get a 5% Conventional Financing.

The area we reside in South Florida has the majority of homes with an HOA so purchasing properties without HOAs is unlikely. 2.

Congratulations on your first major step forward. 

The person with the deal has the stronger hand and gets a majority of the income.