You’ll need to handle inspections, work with housing authorities, and make sure your tenant screening process is solid.

I've been living in my current house hack for ~1.5, and I placed my tenants in September 2023 (lease is up at the end of August).

The housing crisis saw record numbers of foreclosures of single-family homes in Maricopa County in 2010.

House hacking is financially a no-brainer and no city in the US (including Chicago) has more duplexes than Milwaukee.

Other lapses include forgetting to include utility fees in a new lease which was previously discussed with the owner but the new lease got signed by an existing month to month tenant and was not shared with the owner before the tenant and the PM signed it!

A good mix of LTR'S is a very good idea so that all your eggs aren't in the STR basket.I like tourist destinations where STR'S are heavily ingrained and almost impossible to ban or regulate out of existence.

Perhaps you have coverage for the replacement value BUT the insurance company when calculating the replacement property uses modern building materials like drywall but your original house had plaster which is much more expensive.

I'm speaking of co-living in a typical A or B level neighborhood house, so instead of a 20-25% down payment, we are speaking of a 1-5% down payment. 

But you also SHOULD have some vacancy and some capex on an 80 year old house. 

Mike Lambert above is correct about house values in Japan.