Hello, I am new to real estate and looking to get into it and out of renting and starting to work on building that generational wealth.

An argument can be made that you will generate a higher net worth there than say middle of nowhere Alabama.3.

So my plan is to house hack for few months and then move out so that it can generate some cash flow..

It'll be up to the next generation to figure out if they want to build an empire or not. 

Many of my customers who are traveling nurses buy condos or townhomes in Florida as vacation homes, then rent them out when they're not in town.This system has proven to be very lucrative, as it allows them to service the mortgage debt and generate a good cash flow.

Generating equity is often second to that.

The frameworks others have presented of viewing the site as a lead-generation tool where you, as the host, are handling all the payment processing and screening is pretty accurate. 

House Hacking a primary residence is the best way to generate wealth so I always recommend that as the next move. 

But maybe your tenant reaching out and mentioning that they're going to be forced to file a police report for fraud could generate some traction...obviously the real objective here is to just get the seller to call you back...

There will also be many homeowners who have had the properties in the family through generations and own free and clear but now still need to obtain a construction loan to rebuild.