@Dion McNeeley Thanks. I will take the time to stop, collaborate, and listen.

I did a thorough job when buying a distressed property with everything end-of-life. I walked through with the inspector and he was super good about talking me through everything and I learned a lot. I had a plumber come out and scope the house. I knew what I was getting into and it was still priced below what it was really worth. But it's been a ton of work without the initial reserves to cover the rehab quickly. That's life, and I'm happy this opportunity dropped in my lap from my previous landlord. (RIP. Found out he passed in January). I also really like the craftsmanship of this 100-year-old house. It's seen battle, but it's still a tank. That said... I definitely want to explore more stabilized properties when I begin my next hunt. I'm not completely turned off distressed homes at this price, but rehabbing them is it's own business I would have to systemize.

@Harrison Tradebetter I was thinking the same number. I've only got the one house so far. All I know is "Distressed 100+ year old College Town Rental" houses. I also realizing I'm thinking about reserves as if all five houses have a $10k emergency at the same time, which while not impossible, is likely not the norm. It's interesting to see how much lower that amount is for folks that are more experienced than myself.

I would fast track the stabilization of this first house hack, with a lot of plumbing infrastructure updates, new exterior doors/locks all around, some tree/brush removal, tuckpointing the limestone foundation, sister the floor joists, HVAC duct work to make the house more even, patch some critter holes and insulate the attic, and get my entire roster of attorney/CPA/etc figured out. That's my gut reaction of things I'd be pulled to do first.

@Alex Dudder Seller financing! Good answer. I hadn't considered that one day I could be on the seller side of that equation. This is why I ask questions, even if they seem dumb.

@Frank Contreras Oh, Not you, Frank! I was talking about the rest of us. Nice answer. Being newer on this ladder it's an education to hear from those of you further along on the journey. I think my mindset is still in survival mode having only been house hacking for a year, and still having a lot of the legal side to understand.

I started making trade-offs of bad habits for healthy ones that now I would not sacrifice. Like quitting drinking and justifying that money going to the gym. I quit weekly take-out trips, but now make an annual visit to St. Elmo's steakhouse with best friends. That sort of thing. Part of house hacking was about taking my life back, and to stop self-medicating the suck with things that weren't going to cure it. If anything I want to spend MORE time on health, friends, and appreciating life.

@Dion McNeeley “I think there’s a danger in getting so focused on financial freedom that you forget you’re supposed to have a life while you’re getting there” 100%