House Hacking Question
Me and my wife used the rental calculator on a Triplex. We first ran the numbers as if we would be renting out all 3 units to see if the property was a good investment. All the numbers were solid and we had a positive cash flow of $308. We want to use the VA loan, which means we need to live in the largest unit (we have kids). House hacking eliminates 1600 dollars worth of rent and leaves us with a $ -955 cash flow. When I look at that, it appears like that just means our "rent" is 955 dollars with utilities and everything already taken care of. Am I wrong about this? is it really that simple? We only plan on "hacking" for the least amount of time that is required to satisfy the loan. Pretty nervous I might make a mistake since this is our first property.