It's a great way to build a cash vehicle that you can tap into at any time and the money will continue to grow for you even while you're accessing it.

You can do that as you build cash and your experience.

House hacking can also help you offset your living expenses and gain experience managing a property.Also, building a strong foundation is crucial to you success.

Are people building in the area? 

Building a strong foundation is key to success in any real estate market.

For illustration purposes if a tenant or passerby trips and becomes  hurt because of a premises liability event, if you discriminate against a tenant or buyer, fail to pay your contractor for work that was performed or any of the many fact patterns that could lead to claim exposure presents itself do you really believe your identity is going to stop a plaintiffs attorney from filing a claim, lien etc?

Once the development phase is completed minus the last part which is pull permit for the build, you have a building blue print in your hand, you can send the site plan and building plans out to your local builders for bids on the build.

You could probably live for free, build equity, and save more for your next purchase!

I'm a contractor and have been maintaining and upgrading the house since I've lived in it.

Purchase price: $2,225,000 Cash invested: $350,000 Purchased a 40k sqft ft mixed use building on Main st in Middletown, CT.