House hacking

[Drew Cameron]

This past week I went to a local meetup for real estate investors in Scottsdale and met a man who just bought a duplex. He was living on one side and renting the other which brought his mortgage down to $50 out of pocket. I am currently a renter and looking for a house to buy. House hacking was on my radar before, but after hearing this story it's once again at the forefront. I've been running the numbers on some duplexes all over the valley from Mesa to Glendale. It seems like they all will cash flow nicely if they are rented on both sides or can provide free or nearly free housing if I live in one side. Is it really that simple as finding a duplex off the mls or Craigslist? Am I missing something?