Retired military back to school wanting to house hack
I'm moving to Piscataway New Jersey for grad school and will be there for 3 years. I want to house hack while I'm there rather than paying rent. I'm looking at multi family places and I'm getting excited about moving. I'm looking at units on listing apps and Craigslist using the 2% rule and will have my contractor go with me to look at places when I have decided on a few to look at.
My question is, what am I missing??? I'm trying to stay out of flood zones and looking at taxes and rehab costs. This will be my first multi family so I'm nervous about making mistakes and I'll be a full time (20+ credit semesters!) so I won't have much time to correct mistakes.
I'm retired military so I will have income while I'm going to school and my wife and I will be renting out our house in DC (added headache?) Just looking for any major pitfalls to avoid as I take the leap into landlord.