In Boulder is more like 300 but in the upper end you might rent a house for $5K a month that is worth 3M.  3M/5K= 600 GRM which is of course a terrible investment.  

@Parker BullardFrom my experience, house hacking is a great way to reduce housing costs by renting out part of a property, like a duplex or triplex.

With its strong demand for housing and rapid growth in various neighborhoods, you’ll find plenty of opportunities.

I and my spouse are planning on buying a small multifamily and house hack.

Other KPIs and considerations you should evaluate when talking to any lender who offered private placement of loans/notes are historic default rate, how quickly they can place your funds (do you get preference over their income funds, for example), average interest rate - borrower note rate and what is passed through to you, are loans serviced by a 3rd party servicer or in house.

It is a house of card that has collapsed on 2008-09-10 and 11 and now it is starting to happen again.

Thankfully we are commercial bank clients so our rates are as low as you can get in the market place for anyone who is not Lennar or DR horton or those types.Do you pre-sell houses without hedging a percentage of the supply?  

You can quickly see why looking at this graph - https://www.visualcapitalist.com/buying-vs-renting-house-in-...You can see how in 2015 the average mortgage was cheaper than the average rent, so it was easier to make the math work with light value add and just buying single family homes.

Also, I am assuming since you house hacked that you only did 5% down, which then increases your mortgage payments compared to 25% down buyers.

With value-add, I know I'm getting at least some of my capital out when I'm done and I'll end up with a house that should not need any significant cap-ex for quite a while.I'd do turnkey too if the numbers looked good enough but the reality is in the market where I have boots on the ground you're talking about close to 60k between down payment and closing costs for maybe $200/month in cash flow.