My wife & I maybe coming across an opportunity that will allow us to live at a location at no cost (this includes utilities). We are thinking about renting out our home (for which we still are paying a mortgage on). Looking at our market, we would have to get someone in that could essentially cove the mortgage but we would break even, no residual income. Do people have experience with house hacking a Single Family? If so, could you please share your experience (do's & don'ts).
At that point I don't think it counts as house hacking if you aren't living on the property you would just be turning your home into a break even rental property, which may be perfectly acceptable depending on your goals and location.
What exactly are you looking to do? Do you just want to rent out your SFH while you live somewhere else? If you aren't making any construction improvements you will just want to get your ducks in a row on paper and then find a renter.
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