Is House Hacking To Early Retirement A Viable Strategy?

[Raheem Jamaal]

So as I read, watch videos, and listen to BP Podcast more and more on the topic of REI, I've decided to begin planning for early retirement. I'm 24 and currently I'm going through training to become an HVAC technician. Which in my area, an HVAC technician's salary is between 35 and 40 thousand dollars a year. Which I should have the funds and proof of income to put down for my first property in the 150 thousand dollar range with an FHA loan; if I understand correctly. So here is where you guys come in. I need to figure out if this strategy that I'm about to discuss with you all is legitimate to retire early.

Alright, so I save my money up and find a killer deal on a duplex, triplex, or fourplex; my plan is to house hack my way to an early retirement. With that said, once I buy my first cash flow positive property and live in it a year or however long it is to be able to move with an FHA loan, I want to lather, rinse, and repeat until I've built up a portfolio of around 100 thousand dollars or approximately 8,333 dollars a month so I can travel and basically do what I want. What I'm having trouble with is the necessary steps to take once I've bought my first property and want to move on to my second, third, and fourth.

I need to know who I need on my team from the beginning and who to talk too to find good deals in the top markets. I'm just about willing to move anywhere in the top markets (except Florida it's just too damn hot and humid there. Haha.) So any advice or tools would be greatly appreciated and I will continue to keep everybody posted on BP of my progress. 

EDIT: Just realized that I couldn't retire early this way because I would have to live in a unit for a year and then repeat this process again every year. PLEASE. If you know of a better system and strategy to take for my goals, PLEASE, chime in. After watching this video I realized that I have to do some tweaking to this strategy. I just don't know what I should do. Here's the breakdown.

$100,000 a year

or approximately $8,333 a month

56 units at $150 a door would be exactly $8,400 a month.

1. Year— 5 units
2. Years— 10 units
3. Years— 11 units
4. Years— 15 units
5. Years— 15 units