The property would be in Florida as that is where I live. 

Quote from @Maurice Nkonsissie: HelloMy name is Maurice, I live in the greater DMV area.

Hey John,I own 12 units in Detroit but currently live in California.

My wife and I use to live in central GA and in North Carolina but moved out to Arizona a couple years ago.

Hopefully you already worked this out.Aside from HML, there's also an option to do a live-in-flip, where you live in the house for a year and renovate it slowly.

Ive owned a 3 family in Fitchburg MA for 4 years that has done exceptionally well with it, living for free in one unit for a while and constantly upgrading the property over the years.

I live in the greater Nashville area.

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

House hacking in Chicago can be a game-changer—letting you live for free (or close to it) while building wealth through real estate.

Convert the property you are living in now to your second rental, and buy a new home for yourself.