Hey guys and gals I'm 20 and have a good credit score and low income surprise surprise lol! I'm looking to get my first property and I don't know whether I should be looking at houses or 2-4 unit plex's. I would be using an FHA loan so I would have a smaller down payment and would be "house hacking". I would be living in the property so I would think a duplex or triplex would be easier than living in and renting out a house. However I don't know for sure so that's why I am asking. Finding a house withing my price range would be easier but just because it's easier doesn't mean it's better. What would ya'll recommend as a great first place to start? What are the pro's and con's of each? Has anyone lived in a house and rented it out? Thanks for taking the time to read this, I appreciate any and all comments and opinions!
Given your situation you should definitely consider house hacking a duplex, triplex or 4-plex.
I personally think that's more advantageous for you than trying to rent out rooms in a SFH.
Especially since you can capitalize on that low FHA DP since you'll be owner occupying it.