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?

What else could that 30, 40, 50k+ downpayment/rehab cost etc do for you if it wasn't tied up in the property? 

Especially for the cost.

Since you're using an FHA 203k loan and house hacking, focus on managing renovations efficiently to avoid delays and unexpected costs.

I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)

Most sellers are going to want 20-25% down as it’s going to cost them 10% to sell.

I ended up doing that in 2021 and found properties that have made me money rather than costing me money every month. 

Variable cost and CapEx are where I see most investors make errors on their Pro Forma.  

House hacking is a great way to build wealth while keeping your living costs low.

You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans.