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Updated over 8 years ago,
I have a crazy idea, do you think it's right?
My plan is to move out of my single family home in need of renovations and I will live off the grid essentially. I will live in either a camper or tiny house and shower at my family's house. I will have a heat source and enough space to live in, about 400 square feet. I will use some of my equity line from my single family home to pay for the renovations. Once it is finished I can rent it for a good amount of cash flow. I was also wanting to buy a foreclosure or auction for cheap and work on that during my spare time. I have said this to a few of my friends and they think it is nuts. My loan will be paid for by the tenants and I will have extra money to work on the foreclosure. What do you think about all this?