Build to Rent House Hack?!

[Michalyn Clinger]

Hi all! I'll start off by saying that I have absolutely no experience in real estate/landlording. I am 22 years old and have not purchased a home yet. About 6 months ago I discovered "house hacking." This led me to many other interests like passive income & ditching the rat race. While I've been working on paying my CC debt and getting my credit score up, I've been on the lookout for multifamily properties. There are only 2 in my surrounding area for sale right now and they are in crappy neighborhoods, super old(seem like money pits), and one even has roaches...... i am familiar with the brrrr strategy but it seems like too much time & money while I still have to work full time. I live in Central PA and it seems like there is a major shortage of 2-4 unit properties, and a shortage of places to rent. There is more land available than there is multifamily properties. I'm considering buying a lot and building a MODULAR 4plex, living in one and renting the others. I'm just nervous because it seems like a lot of money but I know everything SHOULD be perfect, what tenants want, and it will last a long time without repairs. I have a good idea of what rents I could get. A decent lot of land is about 40k in a good area. Should I even be considering this as my very first investment? Or should I get one of the many single family homes for sale in the area and pay the mortgage for however long it would take us to rehab/update it? Mind you, these houses were built in the 1800s-early 1900s. Horsehair plaster, poor insulation, crappy windows, 2×4 sidewalls... it's scary guys. Has anyone built to rent? Any experience and advice you have would be greatly appreciated!