We were very clear that we were looking for strategies and why and it all sounded good in the initial interview.

House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment. 

Your strategy on a 5/2 is going to take a little more blocking and tackling for mid term rentals.

do you have a strategy?

For short-term and mid-term strategies working there, the simple answer is that it depends. 

Things like this are why it's important to work with a professional who is well versed in real estate taxation because the "common/simple" strategies taught frequently like BRRR or house hacking actually get fairly complicated when it comes to handling it correctly. 

Bloomington is a city located in south-central Indiana, approximately 52 miles southwest of Indianapolis. en.wikipedia.orgRecently, the city has been exploring co-living arrangements as a strategy to enhance affordable housing options.

With this strategy, the house layout is very important.

Quote from @Kaushik Sarkar: I’m exploring strategies to scale my real estate portfolio given the current mortgage rate Not sure much makes sense at 11%...Ouch....tough enough at 7.5%   Might have to put more than 20% down to finance....maybe 30% in North Texas.   

Is there a strategy to do a BRRRR with little to no money out of my own pocket?