Hi all investor here with a sfh property in Oklahoma, I have been having ongoing plumbing issues almost every week with toilet clogs etc since last year, and recently they had to repair the sewer lines and had to excavate the backyard and living room floors costed me tens of thousands of dollars.

To offset costs, I’m planning to buy a duplex and pursue a house-hacking strategy:1.Rent out one unit as a long-term rental.2.Live in the other unit and rent out the bedrooms as short-term rentals (STRs) through a furnished rental approach.Before diving in, I have a couple of questions:1.Can I use a property for both short-term and long-term rentals?

The catch was that it would cost me $7k.

My wife works for Ferguson, and I know many contractors, so I can get a lot of materials at cost.

As others have noted credit unions are generally competitive on HELOC's. 

You can also gain valuable experience virtually and offer low or no cost "co-hosting" services.

This allowed our partner, Jamari Sprueil, to move forward without any upfront costs.

@Dhruv Patel I believe you are getting ahead of yourself....Where in the US are you all-in (land acquisition, soft costs, hard construction) on new construction multi-family for $100/ft.

Cash flow approximately 350 a month.Option 2: Use the cash to buy land to build a 6 bed 4 bath duplex, all in cost approximately 300k/330k. 

Since rental losses are typically passive, the best way to offset W-2 income is through Real Estate Professional Status (REPS) (750+ hours) or Short-Term Rentals (STRs) (100+ hours and more time than anyone else managing the property), which allow real estate losses, including depreciation, to offset active income.A cost segregation study accelerates depreciation, generating large upfront deductions.