investing with student loans, hear me out first.

[Brad Pietrzak]

hey bigger pockets community. I am considering using my student loans to buy my first house hack, now here is why I am considering this and will be seeking your guidance first.

I am a veteran, my school is 100 percent covered. school calculates tuition and cost of living to be around 83k a year not even close for me but I use it to my advantage. this allows me to take a maximum of 40k out per year. between me and my fiancé we are saving about 3500 a month, and we have a good amount in stocks currently.

if I take out the maximum this year by this time next year we would have enough in cash our own plus the 40k student loans we could just buy the duplex outright meaning the 40k would be all the debt we have and use to buy it. -no bank loans-. 

a big reason I am considering this is because currently I am in the ghetto currently and man it sucks with a capitol S for a multitude of reasons. my bills all in run about 700 currently after that I am free and clear that is how we are saving so much, but the stress of living here takes its toll. and I am not willing to move until I own a duplex I would rather eat dirt then not hit our goals and make our dreams come true of truly owning our lives and time.

I would just get a mortgage but due to all my income currently being from my GI bill stipend it is not considered permanent, thus rendering me unable to get a conventional mortgage, and due to her culture until we are married. which we are putting off until I am done with school because of how rough engineering is we don't want to get a mortgage in her name. making all other options pretty difficult making this one an actual viable option to do.

I have done the math with out saving rate, and how it would increase when we bought the duplex. by doing this we could have two duplexes with large amounts down mixed with my student loans in a working class area by the time I graduate making cashflows well over the amount I need to pay the loans and then some, then use my va loan for the third and rush to pay those student loans off. 

doing this with at least this first one if I never used student loans again would make my housing situation infinitely better and help us save and invest even more then. and I wouldn't have to sleep with my gun under my pillow every night. so I am really sold on doing it once so far sense I don't have many other options and am in a unique situation.

I am really moving towards doing it just this once. and seeing how it goes before I do it again. 

what do you all think? poke as many holes in this as possible technically these 40k would be being used for my housing, I just wont be paying rent with them, but from my knowledge anyhow there are no rules against investing with them.