What is house hacking?

Direct answer

Buying a 2–4 unit property as your primary residence, living in one unit, and renting the others — often reducing or eliminating your housing cost.

Expanded explanation

House hacking qualifies for owner-occupant financing (FHA 3.5%, VA 0%, conventional 5%) on multifamily up to 4 units. The other units' rent typically covers most or all of the mortgage. After one year of occupancy, you can move and repeat with another low-down owner-occ loan. The fastest beginner path to scale.

Examples

• FHA 3.5% on $400k 4-plex: $14k down; live in one unit, 3 rentals cover PITI.

More Rental Property questions

• What are the standard tenant screening criteria?
• How much security deposit should I collect?
• How much should I raise rent each year?
• Should I evict or offer cash-for-keys?
• Should I require renters insurance?
• What does a typical turnover cost?