HELP! Ready to make my first deal...but I need a place to live

[Sandra MacKenzie]

Given these uncertain times, what's better renting a house for a year and keeping my $$ liquid or buying a house, paying cash, house hack & HELOC/refinancing asap to get the cash out? I cannot get a mortgage right now (long story) and a chunk of the money I would need to buy is in another country. I would take a 25% hit in exchange right now but things may change in a few months. I really do not want to rent but financially it may be my best bet. I have kids and I am divorcing so I am limited to where I can look for a house to live in. What do you think?