Options for purchasing

[Misael Herrera Granados]

I'm currently applying for pre-approval to purchase my first ever property. Since I'm 24, and don't have much behind me I'm planning on using an FHA loan and taking on the PMI expense. I have a good credit history and I make solid income.

My original plan was to house hack a duplex in the area (Kansas or Missouri), but the real estate agent I'm working with informed me that I'd have a better cashflow and appreciation chance if I purchase a single family unit. The reason why is that in this area there is a lot of competition among the multifamily properties, thus, not making them cashflow efficient. However, he also stated that the multifamily unit is a better option if I'm thinking on a long term hold (which I am) and it will have two units rather than one when I move out to the next property. 

Any advise on things I may be missing in my though process? Should I consider a single family home and eat the cost of owning it for a year while I fix it cosmetically and then rent it out when I move out?

[Nathan Grabau]

I would run the numbers comparing the two, they will give you a clearer picture. This is possible though as the competition for small multi-family is pretty intense in some areas. 

House hacking by the room is worth considering as well. Then when you move out you only have your room to rent. This will increase your work but will substantially increase your cashflow.