1st investment is in the works

Wenatchee, Washington
House Hacking
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1st investment is in the works

Bill Black
Okanogan, WA · Member since 2016 · 15 posts · 4 votes

Just in the process of buying a duplex, with the intent of living in one side and renting the other.

Kind of feeling our way through this one...

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Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
11mo

 Congratulations. I wish when I got started I would've house hacked my first house.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    11mo

     Congratulations. I wish when I got started I would've house hacked my first house.

    7e investments53 Reviews
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    1Reply
  • Kate Sanchez
    Member since 2025 · 242 posts · 98 votes
    11mo

    @Bill Black Congrats on the duplex! Living in one side while renting the other is a smart way to offset costs and learn land lording hands on. Best of luck with your first deal!

    1Reply
  • Scott AllenBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 449 posts · 471 votes
    11mo

    @Bill Black this is one of the best ways to get started. You'll learn many things like the cost of ownership through maintenance, repairs, leasing, and managing tenants. You'll also be off-setting your PITI by having a tenant on one side that's paying you rent vs having a single family house for the same price.

    [email protected]614-698-1227
    Reafco - Columbus, OH
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  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    11mo

    @Bill Black

    That’s exciting! A duplex is a smart way to get started. You’ll gain firsthand experience as a landlord while offsetting your own living costs. Feeling your way through is totally normal; every first investment has a learning curve.

    You probably already know this, but one thing many first-time duplex owners miss is how home office rules can apply if you manage the property yourself. Even just keeping records, scheduling tenants, or handling repairs from a dedicated space at home could let you deduct a portion of your home expenses. It’s a small move that can add up over time and set you up for future success.

    Also, as you get more comfortable, take time to understand Real Estate Professional Status (REPS), Short-Term Rental (STR), and Active Participation rules. These can make a huge difference in how much of your rental income and even your W-2 or business income you can offset with property losses and deductions while house hacking your duplex.

    Good luck, and if you’d like to chat about how to set this up for maximum tax efficiency, we’d be happy to connect.

    This post does not create a CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.

    [email protected]941-914-7779
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  • Ryan SpathBusiness Member
    Real Estate Agent · Boise, ID · Member since 2017 · 560 posts · 376 votes
    11mo

    Moving from “analysis” phase to taking action is the biggest hurdle for most new investors! Congratulations on getting gin the game. House hacking a duplex is one of the best ways to get started investing. There will be a steep learning curve! Here are a couple things you may find helpful:

    1. Create a system and stick to it, document everything
    2. Find your favorite rent collection tool (many are free or very low cost)
    3. Lower your rent, not your standards

    Best of luck with the house hack. If you have any questions, please reach out.

    [email protected]208-600-2814
    1Reply
  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    11mo

    Bill - congrats! What questions do you have as you're working your way through? Are you under contract?

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  • William ThompsonBusiness Member
    Accountant · Williamstown, NJ · Member since 2025 · 321 posts · 177 votes
    11mo
    Quote from @Bill Black:

    Just in the process of buying a duplex, with the intent of living in one side and renting the other.

    Kind of feeling our way through this one...


    That’s an awesome first move — classic house hack strategy and one of the smartest ways to start in real estate. 

    You’ll learn everything — managing tenants, understanding expenses, and seeing how cash flow works — all while your tenant helps pay the mortgage.

    A quick tip from the tax side: make sure you track everything separately (personal vs. rental side). It’ll make your first-year deductions and depreciation a lot smoother — and potentially save you a nice chunk come tax time.

    Are you planning to self-manage, or thinking of hiring a property manager down the line?

    [email protected]609-820-0891
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  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    11mo

    No better way to start!

    You can try LTR, or experiment with MTR & STR for more cashflow:)

    Logical Property Management4.9446 Reviews
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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    11mo

    Congrats! It sounds like you are house-hacking.

    Just be mineful that you acquired partially an investment property and partially a primary residence.

    As such, payments that you make towards mortgage interest, taxes, insurance, etc will need to be prorated.

    Best of luck!

    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
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