Duplex, Househacking
My husband and I recently stumbled upon a duplex (2br, 1b) and (1br, 1b) for 109k. The duplex is in a great area and is currently rented out on both sides (650/550month respectively) with leases ending in Jan. Our plan is to house hack the 2br side for a year. The tricky part of this is that we are a family of four, soon to be, family of five (baby due in Jan). There are quite a few fixes we would want to make on the 2br to make it a nicer space for our family. In the mean time, we are living with my parents and saving money.
Questions:
1. Are we crazy?
2. Experiences with duplexes? Pros/cons?
3. Finance options for first time home owners? Repairs/remodeling financing?
4. Experience with Househacking?
Thanks!