House Hack with a Trailer
I'm getting ready to make an offer on my first investment opportunity. I would like to house hack a duplex which is being listed as a single-family unit. The property includes the two units and the adjacent open lot next to it. (Expanding the entire block from corner to corner about 3/4 of an acre.) Currently both the units are being rented out. I do own a 33ft travel trailer, and was wondering if it is possible to continue renting out both units whilst taking up residency in the trailer with an FHA or Home Ready/Home Possible loan. I have heard of people doing this.. what are your thoughts on the subject.
I am also considering applying for a loan that allows me to build on the open land next to the duplex. It’s really close to a National Park and thus prime real estate for an Airbnb setup. As a new investor my wheels are turning with potential ideas.. but ultimately feeling a little nervous about taking on a big project. Would love to hear some words of encouragement or success stories. Thanks for your time!