Jersey City house hacking
Hi all!
So I'm looking to get into my first deal within the next coming months. I've been looking OOS (Jacksonville FL and Kansas City) and while these are both great options, I'm looking to build a little bit more wealth. I know Jersey city is extremely saturated with investors but I haven't seen much on house hacking in JC. I'd love to get some opinions on buying a MF in JC with an FHA. Ideally, the plan is something that needs minimal work (cosmetic only), live in the unit that needs the work and fix it up over the coming year and rent out the others to cover some of the mortgage. I'm not sure if this still makes sense to do in JC and there's not a calculator for house hacking.
Has anyone else done this? What was your experience?
I feel that house hacking my first deal might mitigate some of the risks of investing OOS. I'd appreciate any and all input!