Another failed government social program thats going bankrupt.

Thousands of investors went bankrupt and lost all their equity.Even if prices do always go up in the long term (which itself is not certain), if you are losing money in the short term, you may not be able hold out that long.

From what I heard, most people that held on to properties for cash flow survived, but the ones who bought multiple hoping for appreciation went bankrupt.

The partner that took over all those houses made it just under 3 years and went bankrupt.

This strategy will work for some and bankrupt others. 

It would have bankrupted me (insurance issues, amount of damage, getting the contractors working, etc. took a while).

@Cameron Riley fair housing law violations and law suits can bankrupt you.

Empathy = charity = bankrupt.

A house hack is like that beginner run (but BRRR'ing, wholesaling, and out-of-state investing are more like double black diamonds).The fact of the matter is: real estate is often a high-stakes endeavor, and the more advanced strategies (like BRRR'ing, wholesaling, flipping, out of state investing, etc.) can easily bankrupt a beginner when they're executed poorly.Plus, HH'ing is an ideal strategy while you're young...when you're in your 20s/early 30s, it's pretty common to live with housemates (or to live in a duplex next to your tenants), but this arrangement becomes much less feasible once you get further into your 30s/40s (especially if you start a family).Now, having said all that, house hacking is not necessarily easy (if it were, everyone would do it!)...

If people followed this attitude to its extreme they would go bankrupt very quickly.