Multifamily househacking analysis help

[Neil Wei]

Hey guys, I'm looking to purchase my first real estate property this year and according to my analysis, househacking a multifamily house here doesn't make any sense, I feel like I'm missing something. Here's an example of an average property I've looked at:

My issue is this: If I'm househacking and I live in one of these units, the rents on the other units are nowhere close to covering the expenses on the house like I was expecting.

I think I'm missing something either in my expectations or in my calculations, and I could use some help or an explanation 

I'm fairly certain of the income, tax, and mortgage numbers, but everything else is a guesstimate 

[Benjamin Aaker]

House hacking is not a way to get cash flow. It's a way to live in a place rent-free (usually) while building equity. Evaluate the deal by comparing it to what you would be paying should you buy a SFR as a primary residence. You may still have to pay some out of pocket to do a house hack, but it should be much less than what you would have had in a primary residence. Add to that the equity build in a 4-plex and you should have some nice cash when you refi. If this is true for your deal, then you should probably take it.