Looking for house hack near college campus

[Gina Lincicum]

Hello all,

I've been following BiggerPockets, learning from podcasts, books, videos, etc. for months now and have set my 2026 goal to buy my first property. I'm looking in Baltimore near JHU because I have a kid in school there who can live off-campus starting this summer. My goal for the next 2 years is to save on her rent (which I'm paying $1500/mo for on campus) while learning more and gaining confidence to purchase a 2-4 unit multi-family in a less expensive market.

Quick questions:
If I rent out the second/third bedrooms to other students, I know I have to set up leases. But when do you open an LLC to protect yourself? Or is that only when you have the LLC purchase a property specifically as a rental?

Do I have to live in this as my primary residence? I don't have another one--I'm currently house hacking by traveling and petsitting full time and haven't paid rent/mortgage in 16 months. I'd rather continue what I'm doing and rent the other rooms to earn the income.

Thanks for your help. Really excited to get started on my REI journey!

[Janice Carter]

Gina, great plan and smart way to combine housing savings with learning. In most cases, you don't need an LLC for your first property, especially if it is owner-occupied. Many investors buy in their personal name, use proper leases and insurance, and form an LLC later once the portfolio grows or for non-owner occupied rentals.

If you use owner-occupied financing, you generally need to live in the property as your primary residence for at least a year. If you plan not to live there, you will need non-owner occupied financing and should confirm local zoning and student rental rules. A local investor-friendly lender and agent can help you structure this correctly from the start.