House Hacking Travel Nurse
Here's an interesting scenario that I would love to get people's opinions/thoughts on. My fiance and I are planning on travel nursing for a year. We know where we want to end up location wise after that year. Here's our plan:
1. She would buy a small multi that needs a good amount of rehab work, using the first time home buyer program for 3% down conventional mortgage.
2. Use that address as the home base for the year of travel nursing (we have to live there for a year anyways with that program)
3. Rehab one side and get a tenant in there
4. While still travel nursing, rehab the second side and get it ready for a tenant
5. Once our year of travel nursing is over we can "move out" of that house and put a tenant in the second unit
So we are expecting to have some time where one of the units is technically vacant. It's actually our place but we wouldn't be living there because we'll be traveling. The reason we came up with this scenario is because my fiance doesn't want to live next to our tenant. Travel nursing pays you a housing stipend which would cover for the vacancy.
This is a lot of info, but I would love to hear what people think. Have you done something like this before? Do you see any implications with doing something like this?
Thanks!