That being said, I could argue that my place is a 2 unit, as there is some gray area there, but in my case I'd have to subdivide to convince the appraiser. 

Some people may argue, "how will the IRS find out".

I would say, don’t argue with them.

When we got married, money was one of the biggest things we'd argue about.

Hi @David Singyee and @Temi Olufotebi,I would argue that there aren't so much "downsides" to house hacking as there are challenges and ways to mess it up. 

Using this amount of cash is a good opportunity also to grow much more the cash we are investing, I am also really interested in real estate and can't stop reading so it would be nice for me to manage the apartments and learn.Right now I am reading "The ABCs of Real Estate Investing" by Ken McElroy. 

Then put the properties into an LLC (some argue to do this by equity position or individually)PM me with Q's!

@Benjamin Molnar I would argue flipping long distance is a bad idea in any market, during any time.

—ABC Detroit WXYZ.com•“Detroit outpaced the national average in many key areas including (GDP) and per capita income.

I'm sure people will argue they will and that's fine, but seems too risky for me.Best of luck!