Hello everyone, I have wanted to house hack for a while now but would always put it aside because I couldn't find the safest property to it with. Now 4 years later there are like no properties left. Right now I am looking at a fourplex- 1bedroom units for 264,000 and Its a bit scary to jump into it but in this are the average rent is between 700-850 for a one bedroom apartment. I do see that the apartments would have to be updated since they are not very modern or even good looking. Another worry is being able to afford the mortgage in a worse case scenario. I am only making 50,000 a year and I should qualify for a FHA loan but not sure if this big a loan. Any ideas or encouragement that could help me?
I Should add that I have looked at duplex but they are extremely expensive or need a lot of work. This is the most reasonable deal and mostly because its 4 units. The next price of a much bigger but spacious place is 419k for a fourplex. There is also a duplex for 450k