@Sanjeev AdvaniTo me this is a common sense law as good landlords already do this.

Good job. 

If you don't have a good handle on what you currently make, you won't be able to handle investment property.If you want to live like no one else, then you have to live like no one else.

Hello All,I have found a few posts on this topic but still hoping for a bit of clarification in regard to this specific situation.I currently have a tenant that is wanting his good friend who is ill to move in with him so that he can take care of him.

I've accumulated a bit of capital and I'm trying to figure out the best way to appreciate on it; and real estate always struck me as a good option—a true classic.I'm from Europe, but I don't really feel location tied in terms of investments—I wonder actually, do many of you do business internationally?

All good stuff, except their offerings are much more limited than a Banker and a Broker. 

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

Keep it in your name, get insurance, and most of all, be a good landlord.

There's no magic line of "good" or "bad" house hacking.

Or are you simply looking to get into something turnkey, and just stick a tenant in there with good cash flow?