House hacking question
Looking to get into the REI game by house-hacking for my first deal.
Current info:
-26 and live in DFW, looking to buy a SF 4 bedroom home in Richardson (230-270k price range)
-live with my parents right now to save money for a down payment (make around 60k per year), have about 20k in cash and another 15k in the market
-plan for financing is putting 3.5% down with an FHA
Question:
My plan is to find 3 other room mates/buddies to rent out the rooms while I live in the 4th room. Say for example I'm getting 1500 for those 3 rooms, and my all in expenses including capex, PMI, tax, insurance, mortgage, etc are 1800-2000 per month. Is it still worth it to get my feet wet even though I'd be losing a few hundred a month to learn?
My logic is that I'd be paying 800-1000 to rent and this way I'd be building equity, hopefully be able to force some appreciation by making live in updates, and get some tax benefits. Any thoughts would be greatly appreciated