I'm here to tell you that House Hacking is one of the best ways to get started in real estate investing. Why? Because house hacking can allow you to eliminate your largest monthly expense - your mortgage or rent payment.
House Hacking is the process of renting out a portion of your personal residence so that you can offset your living expenses. You provide housing to someone at a reasonable rate and receive rental income to put towards your property.
Sometimes that rental income might be minimal. Ideally it will cover all of your mortgage, utilities, maintenance and other property expenses - thus allowing you to eliminate your housing expenses. In some cases the rental income can provide substantial cash-flow above all your expenses.
I've house hacked for the last 10 years and I'm a huge fan. I'll get into the pros and cons at another time - but for now, I hope that this can open up possibilities for you.