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Updated over 8 years ago,
First investment- house hacking with single family house
Hello – I was just reading the article on Facebook about why beginning your investing process with a duplex works out great, what I'm trying to find out is if I can use those same rules when buying a Single family house. I am planning on renting out two rooms, so my rent will be less and I will have a larger amount of cash flow obviously every month. Can I use any of that time as experience for being a 'landlord', and will the banks count that rental income after two years, the same as if I were renting the house out by itself? Of course, as soon as I am able, I want to purchase a second property. Not sure which one to live in...
Any help would be so much appreciated! If I had it to do over again I would have looked harder for a duplex, I believe. But this deal is already finished. Thank you so much!
Lisa