Buy a 2-4 unit property with just 3.5% down and let your tenants cover your mortgage. House hacking is the #1 wealth-building strategy for Nevada first-time buyers and investors. Start building equity while living rent-free.
House hacking means buying a multi-unit property (duplex, triplex, or fourplex), living in one unit, and renting out the others. Your tenants' rent covers most or all of your mortgage payment—essentially letting you live for free while building equity.
Purchase a 2-4 unit property in Nevada using an FHA loan with only 3.5% down. You must occupy one unit as your primary residence.
Lease the remaining units to tenants. In Las Vegas, average duplex rents range from $1,600-$2,000 per unit, easily covering your mortgage.
Live rent-free while tenants pay down your mortgage. After 1 year, you can move out and buy another property, repeating the process.
Purchase Price: $420,000
Down Payment (3.5%): $14,700
Monthly Mortgage: $3,200 (PITI)
Rental Income (1 unit): $1,850/mo
Your Housing Cost: $1,350/mo
Compared to renting a comparable property at $3,200/mo, you save over $22,000 annually while building $15,000+ in equity.
FHA loans for 2-4 unit properties have specific guidelines. Here's what you need to qualify for house hacking in Nevada.
Minimum down payment by property type:
All multi-unit FHA loans require the same 3.5% down if your credit score is 580+. For scores 500-579, 10% down is required.
FHA lets you count projected rental income toward qualification:
Lenders use 75% of projected market rent to offset your mortgage payment in DTI calculations
The FHA appraiser will provide a rent schedule showing market rent for each unit
You don't need to be an experienced landlord—FHA allows first-time investors
You must live in one unit as your primary residence for at least 12 months
Same standards as single-family FHA loans:
Qualifies for minimum down payment on any 1-4 unit property
Higher down payment required, but still possible to house hack
Work on credit repair first, then reapply
FHA requires the property to be safe and habitable:
Each unit needs working plumbing, heating, electrical, and safe access
No peeling paint, structural issues, or safety hazards—FHA appraiser will flag these
If repairs needed, use FHA 203(k) loan to roll renovation costs into your mortgage
Many Nevada investors start with a duplex in North Las Vegas or Henderson where prices are lower ($380K-$450K range). After living there 1 year, they refinance or sell and repeat the process. This "BRRRR + House Hacking" strategy builds a rental portfolio quickly with minimal cash.
Not all Nevada markets are equal for house hacking. Here's where to find the best cash flow and appreciation potential.
Strong rental demand from tourism/service workers. Look in ZIP codes 89156, 89110, 89115 for affordable multi-units.
Get Pre-ApprovedHigher prices but stronger appreciation (5-7% annually). Family-oriented renters prefer Henderson's schools and safety.
Get Pre-ApprovedLower entry costs mean higher cash-on-cash returns. Rapidly developing area with new jobs and infrastructure investments.
Get Pre-ApprovedTech industry growth (Tesla, Google) driving demand. Limited inventory of multi-units creates competitive market.
Get Pre-ApprovedAdjacent to Reno but slightly lower prices. Benefits from Reno's economic growth while offering better affordability.
Get Pre-ApprovedLowest entry cost in Nevada. Popular with retirees and Vegas commuters. Slower appreciation but excellent cash flow.
Get Pre-ApprovedSee how house hacking builds wealth faster than traditional homebuying or renting. Real numbers from Nevada market data.
| Scenario | Initial Investment | Monthly Cost | 5-Year Total Cost | 5-Year Equity Gain | Net Wealth |
|---|---|---|---|---|---|
|
Renting in Las Vegas
$1,800/mo apartment
|
$0 | $1,800 | -$108,000 | $0 | -$108,000 |
|
FHA Single-Family
$350K home, 3.5% down
|
$12,250 | $2,650 | -$171,250 | +$78,000 | -$93,250 |
|
FHA Duplex House Hack
BEST
$420K duplex, 3.5% down
|
$14,700 |
$1,350
(after rental income)
|
-$95,700 | +$94,000 | -$1,700 |
|
FHA Fourplex House Hack
$580K fourplex, 3.5% down
|
$20,300 |
$750
(after rental income)
|
-$65,300 | +$130,000 | +$64,700 |
House hacking a duplex saves you over $100K compared to renting the same 5 years
House hacking a duplex beats traditional homebuying by nearly $92K in net wealth
House hacking a fourplex can net you $173K more than renting over 5 years
Property appreciation: 4.5% annually (Nevada 10-year average)
Mortgage rate: 6.75% (current FHA average)
Rent increases: 3% annually
Tax benefits: Not included (actual savings would be higher)
Rental vacancy: 8% factored into cash flow
Maintenance: $200/unit/month set aside
Everything Nevada homebuyers need to know about using FHA loans for multi-unit house hacking.
Get pre-approved for an FHA multi-unit loan and start building wealth through house hacking. Our Nevada-based loan officers specialize in investment property financing.
Turn your first home into an investment property! FHA loans allow you to buy a duplex, triplex, or fourplex with just 3.5% down while living in one unit and renting out the others. Let your tenants pay your mortgage while you build equity.
House hacking is a real estate investment strategy where you buy a multi-unit property, live in one unit, and rent out the others to cover most or all of your mortgage payment.
You must occupy one of the units as your primary residence for at least 12 months. This makes you eligible for FHA's low down payment benefits.
Collect rental income from the other 1-3 units. This income goes directly toward covering your mortgage, insurance, taxes, and maintenance costs.
Your tenants help you build equity while you benefit from property appreciation, tax deductions, and forced savings through mortgage paydown.
Nevada's growing rental market makes house hacking especially attractive in Las Vegas, Reno, and Henderson. With strong rental demand and appreciation potential, multi-unit properties can provide significant cash flow and long-term wealth building.
See how rental income can dramatically reduce or even eliminate your housing costs while building equity in Nevada real estate.
Key requirements and guidelines for financing 2-4 unit properties with FHA loans in Nevada.
Just 3.5% down for 2-4 unit properties. On a $400,000 triplex, that's only $14,000 down.
Minimum 580 credit score for 3.5% down. 500-579 scores require 10% down payment.
Maximum 43-50% debt-to-income. Rental income from units can help you qualify and offset mortgage costs.
You must occupy one unit as your primary residence within 60 days and for at least 12 months after closing.
2025 Clark County limits: $644,000 (duplex), $778,500 (triplex), $967,500 (fourplex).
Property must meet FHA minimum property standards. Each unit needs separate kitchen, bath, entrance, and utilities.
Lenders typically use 75% of projected rental income when qualifying you for the loan. For example, if units rent for $1,500/month, they'll count $1,125 toward your qualifying income to account for vacancies and maintenance.
If the property already has existing leases, lenders may use the actual lease amounts. This can significantly improve your debt-to-income ratio and help you qualify for a larger loan.
Your roadmap from finding the right property to becoming a successful landlord-homeowner.
Start with FHA pre-approval specifically for 2-4 unit properties. Lenders will calculate how much you can afford including projected rental income. Provide income docs, credit history, and asset statements.
Look for duplexes, triplexes, or fourplexes in Nevada neighborhoods with strong rental demand. Work with a real estate agent experienced in multi-unit properties and investment properties.
Calculate all costs: mortgage, taxes, insurance, HOA (if any), maintenance reserves, and potential rental income. Ensure the property will at least break even or generate positive cash flow.
Complete FHA appraisal and inspection, finalize financing, and close on the property. You must move into one unit within 60 days and live there for at least 12 months.
Screen tenants, collect rent, maintain the property, and watch your equity grow. After 12 months, you can move out and rent your unit too, or stay and continue building wealth.
Best Nevada cities and neighborhoods for house hacking with strong rental demand and appreciation potential.
Strong rental market near UNLV, downtown, and entertainment districts. Average duplex: $450K-$550K. Typical rent: $1,400-$1,700/unit.
Family-friendly with excellent schools. Average triplex: $550K-$650K. Typical rent: $1,600-$1,900/unit. Lower vacancy rates.
Growing tech hub with UNR students. Average duplex: $480K-$580K. Typical rent: $1,300-$1,600/unit. Strong job market growth.
More affordable entry point. Average duplex: $380K-$480K. Typical rent: $1,200-$1,500/unit. Growing area with new development.
Next to Reno with lower prices. Average triplex: $520K-$620K. Typical rent: $1,350-$1,650/unit. Tesla Gigafactory workforce nearby.
Premium market with strong demand. Average fourplex: $750K-$900K. Typical rent: $1,800-$2,200/unit. High-quality tenants.
Look for properties within 2 miles of major employers, universities, or entertainment districts. These areas typically have:
Learn how Nevada homebuyers turned FHA multi-unit properties into wealth-building machines
Duplex Purchase - 2024
"I was paying $1,800/month in rent and couldn't save for a down payment. The FHA 3.5% down option let me buy a duplex in North Las Vegas. Now my tenant pays $1,650 which covers most of my mortgage. I went from $1,800 rent to $450 housing cost!"
Triplex Purchase - 2023
"We were both paying rent separately ($1,500 + $1,400). Using FHA we bought a triplex, live in one unit, and rent two units for $1,550 each. Now our housing is FREE plus we make $350/month! In 2 years we'll refinance and buy another property."
Join hundreds of Nevada homebuyers who've reduced their housing costs to $0 (or even earned positive cash flow) with FHA multi-unit financing
Everything Nevada homebuyers need to know about financing multi-unit properties with FHA loans.
Have more questions about house hacking with FHA loans?
Talk to an FHA Specialist