New to Jax – Looking to House Hack & Build Portfolio

[Aldwin Torres]

Hey everyone, I’m new here and excited to connect with like minded investors.

I’m active-duty military and recently moved to the Jacksonville, FL area. I currently have my home rented and cash flowing, and I’m renting an apartment in Jax until my lease ends this September.

I’ve been diving into BiggerPockets content and really like the idea of house hacking specifically buying a multifamily property, living in one unit, and renting out the others. I’ve been running numbers, but most properties I find here are offering around a 6% cap rate.

I’ve been told to aim for at least an 8% cap rate. Is that realistic in this market, or should I adjust my expectations? have a solid cash reserve, but my debt-to-income ratio is high, which is limiting my traditional financing options. I’m considering partnering with someone on a deal where I could bring value either through equity, effort, or capital.

Has anyone else faced a similar situation? I’d love to hear your experiences, advice, or any feedback you’re willing to share. Thanks in advance!

[Melissa Justice]

@Aldwin Torres,

Welcome—and thank you for your service! My husband is also a Marine Corps veteran. YOU guys really are the MVPs!

In regard to your post - you’re off to a great start already: you're cash flowing on your current property, plugged into BiggerPockets, and thinking strategically about house hacking. That’s more than most people who’ve been in the game for years.

Regarding the 8% cap rate—that benchmark is often thrown around, but it’s not always realistic in competitive or growing markets like Jacksonville. In today’s environment, 6% can still be solid, especially if the area is appreciating, rents are rising, and you’re factoring in the benefits of house hacking (lower personal housing costs, potential tax write-offs, etc.). The key is finding a deal that works for your goals—especially if you're offsetting your own housing expenses by living in one unit.

That said, if your DTI is a limiting facto* and financing is tight, looking into a partnership could absolutely be a smart move. Bring sweat equity, market knowledge, or capital to the table—and you'll likely find someone willing to team up. Just make sure the roles and expectations are clearly defined.

Also, don’t overlook the possibility of investing out-of-state if local returns feel tight. Markets like South Bend, Akron, Birmingham, Memphis, and even new builds in places like Locust Grove, GA are still delivering stronger cap rates and landlord-friendly environments. You could continue house hacking locally while building a portfolio of turnkey rentals in cash-flow markets elsewhere.

Feel free to reach out if you want to brainstorm strategies—this community is full of people who’ve overcome similar hurdles.

Best of luck,

Melissa