House Hacking in South Florida

[Gillian C.]

Hi all!

Like many of you I'm looking to house hack hack by purchasing a duplex using FHA financing. I My preference is Broward County, FL but I have the flexibility to purchase in Miami-Dade or Palm Beach. 

I started my search in Dec and have yet to see anything worth putting an offer on.  Most duplexes are ruled out because they're in areas I would not feel safe living in. And it seems most properties are grossly overpriced - rental rates do not justify the asking price for many of the properties that are located in decent neighborhoods. 

My questions to you all are:

1. Where are the non-sketchy areas in South FL with duplexes?

2. Should I consider a different investment strategy? (i.e. continue renting and purchase an investment property outside of my area, do a live in flip for a SFH, others?)

3. Do I forgo some cash flow just to get started?

Thanks all.

[Justin Jocewicz]

postlets.com.  It's a free service that will broker your ad to multiple sites.  Zillow and Trulia being the biggest.  It also gives you a handy dandy html output so you can copy and paste into your Craigslist ad :-)