Submitting an offer on my FIRST MFH house hack tomorrow!

[Scott Williams]

House hack say what??!

Are there any things I should ask about outside of the norm?

Planning to live in the house and fix up the rougher unit while renting out the nicer one!

The house is super fairly priced, and I know I'm going to need to submit above ask, but it'll be FHA loan so I'm worried a cash buyer will swoop in :/

I’ve done some due diligence, but relatively new to all of this, so any recommendations are greatly appreciated!

[Will Fraser]

Hi @Scott Williams, welcome to the Biggerpockets forums!

I'd caution you to consider your approach very carefully.  One of the primary advantages to house-hacking is keeping your "cash in the asset" low (i.e. what makes it a hack).  When you start looking at deals that need rehab it can get inefficient on the quick.  

Let the numbers tell the story. If you use an FHA loan to purchase the duplex(?) and then put the cash into renovating the rougher side, what will your Cash on Cash return be? Does it still leave enough cash in reserves for you to weather any repair storm that might come up? Does it meet your goals for cashflow and ROI from the property?

If so, boom! That's awesome!  Have a good inspection done and have fun all around :)