First House Hack Complete

[Griffin Malcolm]

Hey all, just completed my first home purchase this May at age 24 and wanted to share! SFH 5 bedroom 2 full bath in Schenectady, NY. Mortgage is around $1650. Home equity loan to repair the roof, collapsed pipe in the sewer, water main, and fix the electrical is for 33k, or another $240 a month, so all in I'm around $1900 a month. Purchase price was 180k and it appraised for 230k, so I feel pretty good about it. After the 33k loan I'll still be 17k in positive equity with an updated home.

Will have 3 college friends staying with me for $650 a room, so while I'm living there the mortgage will be completely covered. I wanted a duplex so I could cash flow, but after looking for months and months, with close to 10 offers submitted and one falling through at inspection, I decided to expand my search to SFHs. 

I don't want to gauge my friends for rent, but I see some posts on here for rooms going for close to a grand each. Do you guys think I could get more per room here? Also, how do I navigate my debt-to-income being high now so I can buy my next house? The only thing I can think of is using my 2 in 5 rights to sell this house in 2 years and then roll it into a nicer duplex that will cash flow. Is it possible to keep this SFH and also get a duplex? Thanks!

[Griffin Malcolm]

Yeah. I talked to my lender this morning that did my first house and he said they can actually use 100% of the rents, as long as I report them on my taxes. I think I'm good to go now!