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Updated over 8 years ago,
House Hacking & The 2% Rule
Greetings BP!
Kicking off my REI journey and as a first timer I'm looking to break into the game through house hacking.
Currently, pursuing a triplex in the Philadelphia market that needs a full gut. In applying the 2% rule to the 3 units the deal works great, however, since I am planning on also making this my primary residence and covering the mortgage from the two tenants technically I would not be paying myself rent.
With income coming from only 2 units the property ultimately fails the 2% percent test while I'm living there. Is this a good deal worth pursuing?
Thanks in advance for the insight!