New and looking for thoughts

[David Davis]

Hi all.  I am interested and ready to make my first investment.  I am debating if I want to do a house hack (I am in Chicago, which is expensive and high taxes) or do I invest out of town?  I have no experience, this is my first investment, so I am leaning towards a house hack (2 or 3 unit building) living in 1 unit, rent out the others and if my monthly outflow is less than I pay now in rent, then I am winning.  I could put the excess away in savings and be able to buy #2 in a year and then rethink if I do another 2-3 unit locally or at that point invest out of market.  Would love to get some feedback and experience shares and even some advice.  I can invest around $75k maybe a little more if needed, but ideally, I would like to be less than $50k.  Not sure what else to share at this point.

[Jonathan Klemm]

@David Daily - I always recommend house hacking if you are able and especially in Chicago where there are so many 2-4 units.

Where exactly are you planning on looking?  $50k may or may not be enough depending on your