There are definitely people with more experience than I have, but from what I understand, Proper insurance (and probably other companies) will cover like a commercial policy, as well as a personal property for your own personal use.  

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

Then when you have enough money for the 3.5% down, buy a place that you can live in and rent out spaces to other people. 

Most people are going for 3+.

I'm all over areas with at least 50k people (Loveland, CO), but also places with a 1M+ (El Paso) and Large Areas like The Greater Denver Area. 

When that area was built, people flocked to it for it's affordability, but over the course of several years, it became like a ghost town. 

Quote from @Elias Halvorson: Aloha Diandre, You will get 100 people responding on here responding they can do it and their company focuses on it.

Every tax season, I see people unintentionally overpaying the IRS.

The short answer to Kaleb is that 'yes', people in BP Nation have 'experience developing or owning something like this.'

Most people assume that house hacking means living in a 2 bedroom 1 bath duplex.