My partner and I have already been discussing real estate as a long-term wealth-building strategy, and house hacking is definitely on our radar.

It’s a lower risk strategy since you’ll be living in one of the units, and you’ll qualify for low down payment loans.

With this strategy, we knew exactly how each house was operating and we could intervene or change leadership of the house if necessary to assure operations were going as we expected. 

Consider consulting a real estate attorney or CPA to determine the best strategy based on tax efficiency, future sale plans, and estate considerations.

It’s a winning strategy…..  

Looking at this property as a long term rental strategy.

This strategy aligns well with the buy-and-hold model.Leverage Local Expertise: Partner with professionals like real estate agents familiar with rental markets and property managers who understand tenant needs.

Focus on one strategy, practice analyzing deals, and take consistent small steps like attending events and building relationships.

I’d love to hear your thoughts on strategies that have worked for you.

How to Track Regulatory ChangesStaying up-to-date might seem daunting, but the right strategies and resources make it manageable.Key Resources:Local Government Websites: These often publish updates to zoning, rental, and housing codes.Real Estate Associations: Organizations like the National Association of Realtors (NAR) or local landlord associations offer regular updates and seminars.Newsletters and Blogs: Subscribe to reputable legal or real estate blogs for insights into upcoming changes.Professional Advisors: Build relationships with real estate attorneys and property management professionals who can provide guidance tailored to your market.Pro Tip: Set up Google Alerts for terms like “rental law changes” or “landlord regulations” in your area to receive real-time updates.3.