Hello, I am new to house hacking. I am currently saving money and learning about the process of buying my first house hacking property (just finished Craig's book 👍🏼). I live in New York Long Island, I don’t have a specific neighborhood or area just yet of where I’m going to buy my first place but I do plan on buying a single-family home and renting by the room as to my understanding this is the best way to profit cash flow each month compared to the other house Hacking strategies. I am very curious in such an expensive market like New York & only putting down 3.5%-5% with a home owner occupied loan, is it possible to positively cash flow!? (Live for free, put money away for reserves and PROFIT each month!) even if it means the first year i live i pay a little of the mortgage out if pocket until i move out and rent the room i was in. I also read that there is a law in New York prohibiting more than three people that are unrelated to live in one single family home, limiting the amount of rooms I can rent and adding to my point, is it possible!? & is that law true? Thank you!
