House/room hacking brrrr 1st home

[Blake Mitchell]

Wanted to share my current situation, open to tips and advice to make the best of what i have going on.

Bought my first home November 1 2019. Fha loan, $5000 total got me the keys.

3 bed 1 bath with unfinished walkout basement

I live in 1 bedroom, rented a room out January 1 for 400 a month furnished all bills included, so far tenant is good.

Last week rented out 2nd spare room for 150 a week (600/month) , so far so good.

The combined rents collected covers my mortgage and water, im loving that.

Moving on- i have framed the basement, and got plumbing added to finish the space. As of now, the bedroom and bathroom are about 1 month from me living in them. Fyi the basement has its own separate entrance and i added a window for the bedroom to be legal.

Skipping details but the basement will be an entirely separate living space from the existing house, and i will continue renting by the room upstairs.

When I officially move downstairs, i will rent the 3rd room, and be living completely free and even cash flowing a little.

Easier said than done but i do believe it will be worth the headache once im moved in the basement.

If anyone has ever done something similar id love to hear anything you have to say, and of course you guys are welcome to ask any questions you have. Thanks for reading