In my opinion, house hacking is one of the most powerful strategies in RE. There are countless benefits, but there are typically also significant sacrifices.

I have successfully house hacked 2 student rentals in Reno, NV, and it's completely changed my life. However, it was also one of the most difficult thing I've done in my life.

I lived in one room and rented out the other rooms to 4 college students. At one point, for extra rent, I split my room with a curtain and rented it out to my 68 year old co-worker (which did not work out well...). But, it's a lesson learned and a story I will never cease to tell.

When I was living in one of my rentals I met my girlfriend, and explained to her what I was doing.

She was immediately intrigued and explained how she had been thinking of doing something similar for quite some time.

But, she wanted to live in a space by herself, and simultaneously wanted to save money for her 1st RE purchase (she was unable to qualify for a loan and did not yet have the down payment).

So, she began looking into alternative options. Tiny homes were very attractive, but they were expensive, and, where would we put it? My rentals were unfortunately not an option (after significant due diligence).

So, she ended up deciding on a travel trailer, and parking it on a lot at a trailer park. Full hookups (water, sewer, and electricity). While this isn't a "traditional" house hack, it allowed us to live cheaply, have our own space, and save up a significant amount of money.

She purchased the trailer for $10K, and we started to do renovations every single weekend.

Before/After:

- New sink/faucet, new floors, new paint, new drawer pulls, new couch, new table, new lights, etc.

Different angle of the kitchen, a shed that we used as storage (bought off of Amazon), and the exterior of the trailer (notice the snow :))

- Bathroom renovation (new sink, faucet, countertop, painted mirror, etc.)

- More finished interior shots!

We regret:

- Not doing more due diligence on how to properly winterize. At one point, our sink was not working properly so we had to do dishes in the shower...

- Not having a reliable/quiet heat source. The heating unit worked, but it was incredibly loud. We went through two A/C/heating units.

While living here (with 2 cats, 3 geckos, and a snake), we ended up paying about $300 per month each, which included lot rent and all utilities.

This boosted both of our savings significantly.

AND, she was also able to successfully sell the trailer for a profit after about 18 months!

The winter was a bit brutal, but we both learned a ton and became extremely close throughout the entire process. It is not sexy, it goes against the grain, but we're both extremely glad we did it :)

Just wanted to share for anyone out there that may be considering this as an option with the high cost of living Nationwide.

Again, I know this arguably isn't house hacking (at least in the traditional sense), but thought it was relevant on this thread :)