House hacking a duplex in Austin
Hi,
I've been considering and am actively looking for a duplex where I can live on one side and rent the other. The Austin market seems to be continually growing and house prices keep gowing up. For this reason I think the 1% rule is quite difficult to achieve.
It would be ideal that the rent of the other side be enough to pay the mortgage where I can basically live for free. If this isn't possible, what would you consider be the threshold to make this a good deal? Let's suppose total mortgage is $2500 and I can rent the better side of the duplex for $1500. Would you still live on the other side paying the remainder $1000 to cover mortgage? If I eventually move out, I could rent this other side at $1300 and have some cash flow coming in.
Any inputs and opinions are welcome.
Thanks,