It is simply buying a home and renting out parts of it to cover some or all of the mortgage payments. House hacking works extremely well with small multifamily properties.
I believe this is a discipline that benefits from momentum. When you decide to start, it may take a year to acquire your first building.
If you are dedicated to this method, the risk of being upside down will be outweighed by the benefits of achieving financial security in such a short period of time.
Sort of. While there is no such thing as truly passive income, self-managed real estate is not the most passive.