First House hack area with Opportunity Cost
Hey yall, I'm new to real estate investing and want to get into it by house hacking. I've listened to podcasts and done research but I have a question that maybe yall seasoned folks might be able to answer or provide a clear direction.
So I'm in a situation where I work (Charlottesville, Va) has great opportunities to buy multifamily units or houses to house hack. The area has a low vacancy rate and a substantial rent cost depending on where you are. But where I live currently has a power plant and a big Amazon data center being constructed and has the potential to turn the county into a big business center. I was told I should buy land while it's still cheap, build a house, and house hack it to have assets that potentially have a high appreciation return.
so my question is, should I go with the Charlottesville route that is already developed but low vacancy rate or take a chance and build in my hometown in hopes of finding tenants and a high appreciation return. Thanks for any and all input and I can't wait to hear from yall!