@Valley of Plenty, will you please exactly what you mean by "house hack"? I'm not quite sure I understand you.
I don't agree with cosine88's third point re: need to have 25% down.
Unless you're the lender, you can disagree all you want, but cosine88 is right. For non-owner occ property, 25% down is pretty standard. Typically the loan cost on a "good" loan is 50 basis points higher than the owner ocupied property rates.
My quibble with
@cosine88's list is point #5. Not all lenders require this. In our case,
Rental #1 was a new build. Financing was arranged/discounted though builder. Owner occupancy was "assumed", even though I wasn't actually old enough to live in it. I am sure the builder was getting a kickback from the lender, and this was in the days when nobody cared, so I refrained from pointing it out snd they pretended not to notice (maybe this is what OP means by house hacking).
Rental #2 was purchased as a rental, but our bank insisted on writing it as a second home. It's still that way.
Rental #3 was purchased as a non-owner occ with 25% down and a +50 basis points rate premium. They also did a re-fi on rental #1 at the same time, but only because we had plenty of equity and interest rates had dropped enough that we stlll saved money. They absolutely ignored the mortgage on rental #2.
All three are insured as rentals and reported as such on our tax returns.
In between, we have flipped a couple of houses. The lenders knew they were flips. They required different insurance and 25% down.
FWIW, #2 & #3 were our version of BRRR's. We Buy, Renovate, Rent, and Repeat. We have plenty of cash (from the flips) and we DIY, so our reno costs are not high. We focus on getting a good loan in the first place, so the typical Refinance step isn't necessary.