Essentially a small investment, good cash flow and a shortened pay down at 15 yrs 

Maybe because I'm in Los Angeles, I don't view cash flow as an absolute essential, at least not right out the gate.

It is essential that when choosing tenants for a B class property that you choose the very best and it is short sighted to not realise that low credit scores are a indication of some level of irresponsibility that will likely transfer to everything about their life style.Usually, not always, those with good scores do not live like pigs...it all translates to attitude which is what you are seeking with good tenants.....good attitudes, responsible individuals.

With a house hack, you can make money while learning many of the essential skills you'll need to succeed in any other area of RE investing (e.g.; how to analyze properties, how to engage in a strong due diligence process, how to screen tenants, how to manage the property, how to build a network of contractors, plumbers, electricians and other pros, how to manage the book keeping of the property, etc., etc., etc.

Essentially, you invest by letting others invest in your deals rather than losing their retirement money in the coming stock market crash (already underway).

It was tough to find a deal that would cash flow properly with essentially no money down, but it forced us to find a property below market value.

Essentially, it killed the mold but you could still see the evidence of mold.

@Yoni RamrasThe refinance entails a ton of paperwork and verifications that could include income, cash reserves and credit.The process can take 30 days or longer depending on conditions and how fast the borrower gets their paperwork to the lender and if any conditions create new conditionsNot really the permitted plans, but to make sure the work was done in a workmanlike manner and that permits were pulled for work completed.An appraiser for the bank.  

Essentially they would take a Deed of Trust or Mortgage on the new place and an existing place.  

There are ways to hide your fee's from the buyers and sellers but most transactions will have that information right on the HUD (closing paper work).