New York/NJ house hacking feasible?
Hi, with a job that has offices both in the financial district of Manhattan and White Plains NY, I am pretty open on where I can live. Whether it’s jersey city or anywhere in Westchester county.
Originally I was going to rent there and invest in the mid-west. However, I wanted to look more into house hacking, and NJ was interesting. There’s many duplexes and 3plexes in Bergen-Lafayette that could work. And Westchester along the metro North also has some options.
Could someone tell me more my options in this area? Do tenant laws make it a headache to deal with compared to other areas? Once I move out Is cash flow possible, or at least to where rent covers some funds for maintenance/vacancy? I want to try and somewhat limit out of pocket expenses where possible.
I’d likely stay in the duplex 1-2 years to benefit from the lower down payment and then move out either into another multi family purchase or rent in a more desirable area in NY/Jersey City.