Getting Started in rental property investments in Chicago

[Steven Antola]

I am looking for any insight with getting started in rental property investments. Based on my initial research, I believe that the "house hacking" method is my preferred choice. My 5yr plan is to acquire several 3 - 4 flat properties in the Chicago area. If I'm understanding the basic principles of that method, I would purchase under an FHA loan, live in it for one year, refinance to a conventional and purchase another under FHA live in that for 1yr, repeating the process until I achieve my investment goals. The long term vision is to build financial freedom, generational wealth, leverage the tax advantages of becoming a real estate investor and potentially cultivate it into my main source of income. I would appreciate any and all guidance.