The Greystar numbers don't surprise me at all.

When I finally got him to meet me at the apartment, he told me that I owed $40,000 to cover the rest of the mold removal and demolition costs and renovation.

He did not pay me at closing.

I found an attorney who would file for me at a reasonable cost and now I have a judgement from a superior court judge declaring me the owner against all claims.  

I suspect a cost seg would be overkill for me at this time but it doesn't hurt to at least talk to someone about it.

@Christopher Pray In most cases, it only makes sense to buy at a low cap rate if it's a value-add deal with lots of "meat on the bone" or if the investor is well capitalized and looking for a stabilized property with a consistent income stream. 

You can also email me at brookemorton at gmail.

She wants to sell the house to me at a great deal (her home is paid in full).

I own a 5 bed / 2 bath SFH that I’m currently house hacking but plan to move out of and keep as a rental.Bought: $284k (2 years ago)Conservative value: $380k (target ~$425k)Current rate: 7.35%Current payment (PITI): $2,273/moIt’s fully renovated (tiled baths, large master addition, refinished hardwoods, granite, stainless, etc.).Rental comps are tricky — not many 5BRs in the area.4BR homes rent for ~$2,800/moI estimate $3,000 low end, $3,200–3,400 high endI want to hold long-term due to location and appreciation potential.HELOC SituationI used a $60k HELOC on another property and pulled ~$35k for down payment + some reno.HELOC payment: $310/moOriginal goal was to cash-out refi this property to wipe out the HELOC and essentially recycle my capital.Lender OptionsOption 1: Rate & Term Refi5.99%, no points70% LTV on $380kNew PITI ≈ $1,983/moNo cash outOption 2: Cash-Out Refi6.625%, no points80% LTVPITI ≈ $2,331/mo~$30k cash out (enough to nearly wipe HELOC)If I cash out and pay off the HELOC, I eliminate the $310/mo payment — effectively putting me at ~$2,021 total outflow.

To me, at the beginning of your wealth building journey, you should be okay with putting a lower down payment in exchange for having more cash today which you can use to update the property.To me, as long as the house hack reduces living expenses and cash flows even a little upon move out, it's a win in my eyes.