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Updated almost 5 years ago,
Duplex House Hacking - Good Investment Or Not?
I'm thinking about house hacking for the first time with an FHA loan 3.5% down.
There’s a duplex that someone is selling me off market at $220k in a very good area in Tampa, FL (West Tampa is the area). 2/1 each unit and the rents are usually $950-$1,000, separate electric meters, one water meter. Taxes are $2,200 and insurance is $800/yr
As a cash flow deal it makes sense, it shows $224/mo cash flow and 11.98% cash on cash. My question is: Is this still a good deal if I decide to house hack it for a year?