Wow, that would be a great case study over at bootstrappers.io ... Would love to read about your bootstrapping / lifestyle business experiences.
As another story to back this up, I moved to India when I was bootstrapping my first business. I got down to $2/day for food, and found free rent. This low personal burn rate massively extended the amount of runway available. Of course, Bangalore is no longer low cost, but there are plenty of places that still are.