live out

1.  Complete or survive the end of a period of time, as in Grandpa wants to live out his days in a warmer climate. [First half of 1500s]
2.  Reside away from one's place of employment, as in She's a fine housekeeper, but insists on living out. This expression is used primarily for domestic help. [Mid-1800s] Also see live in, def. 1.
3.  live out of. Lead a lifestyle characterized by a particular item. This phrase appears in such idioms as live out of a suitcase, meaning "to travel so much that one has no time to unpack one's belongings," or live out of cans, meaning "to eat only canned food for lack of other foods or time to prepare them." For example, Traveling for months on end, he got very tired of living out of a suitcase, or We had neither gas nor electricity for a week and had to live out of cans.

The verb has 2 meanings:

Meaning #1: live out one's life; live to the end

Meaning #2: work in a house where one does not live; he can easily commute from his home"
  Synonym: sleep out
  Antonym: live in (meaning #1)