Your best bet it to run multiple campaigns concurrently as some may be more effective than others.

That means your net effective living expenses will be $955.

But I have buddies and clients who have not gotten one dime of rent since the eviction moratorium went into effect.

It''s called House Hacking and it's one of the most effective ways to get started in real estate investing. 

Any effective 'profit,' for lack of better term, that you take is called the "boot." 

Is this just as effective as getting an FHA loan?

Despite appearing 'scummy', what I proposed, is effective, and far more beneficial to the heirs, who are not willing to probate their inheritance, than letting it go into property tax foreclosure. 

In more normal markets it seemed to be surprisingly effective.

Meanwhile your tenant is pissed off because it took 3 weeks for the AC to get fixed the first time, and is demanding he not be charged for those weeks as the house was effectively unlivable without AC during the summer months. 

It is a very cheap and effective form of insurance.