Is it smart to do a $300–$400k House Hack with FHA and Roommates?

Hey BP,

I'm a first-time buyer and a junior in college. I currently live in Melbourne, and am for a looking at 4 bed / 2 bath houses in the $300k–$400k range in good neighborhoods. I plan to use an FHA loan (3.5% down), live in one room, and rent the other 3 to friends at around $850/month each.

My goal is to have their rent cover most of the mortgage while I pay a discounted rent to live there. Later on, I’d move out about two years post grad and hand it off to a property manager to rent the whole house, and hopefully do a REFI to do another house hack wherever I move.

Main questions:

-Would this setup make the home realistically affordable with an FHA loan and roommates?

-Is it normal to have slightly negative or breakeven cash flow in the beginning?

-Once I switch to a property manager, is it expected that the cash flow would stay fairly low in a setup like this?

Appreciate any insight or advice from those who’ve done something similar!