Hi everyone!

I've noticed a common challenge in discussions about house hacking: finding a duplex is one thing, but knowing whether the numbers actually make sense is another.

For anyone planning to live in one unit and rent out the other, I think having a simple system for comparing properties could help avoid some costly mistakes.

Here are 5 things worth checking before making a decision:

1. Calculate the full monthly cost.

Don't focus only on the mortgage payment. Include property taxes, insurance, utilities you're responsible for, maintenance, and other recurring expenses.

2. Research realistic rental income.

Compare similar rental properties in the area instead of relying only on the seller's estimated rental income.

3. Account for unexpected expenses.

Vacancies, repairs, and maintenance can affect your monthly cash flow. Having financial reserves is important.

4. Understand your financing requirements.

If you're considering an FHA or another owner-occupied loan, confirm the eligibility and occupancy requirements with your lender.

5. Keep your property research organized.

A simple spreadsheet can help you compare purchase prices, estimated rent, expenses, property conditions, and next steps without losing track of important details.

The goal isn't just to find a duplex. It's to understand whether the investment is financially manageable.

For those who have successfully house hacked: What's one thing you wish you'd checked more carefully before buying your first property?

I'd love to learn from your experiences.

Disclosure: Draft prepared with AI assistance.