House hacking brand new 4plex

[Ricardo Compian]

Wondering if anybody has done anything similar. Im hoping to get into my first deal soon. Im convinced on house hacking a 4 plex on a FHA loan. Before I ask the questions I would like to state that I am looking to get cashflow from the property until AFTER I move out and have all 4 fully rented. So I would say until after year one or two. I am 25 years old so im 100% focused on deals that make sense for the long term. Im hoping I can get enough rental income on the first year to cover all expenses including mortgage, cap ex, repairs, vacancy, and hopefully I can wiggle in management for the convenience of properly screening of quality tenants. That being said, would it be unwise to lower my repairs percentage since it is a brand new fourplex? Meaning I dont expect major repairs since it is a new bulding for the first couple of years. Ive heard hours and hours of podcasts but very little info and tips discussing brand new buildings. Am I wrong for aiming for new contruction buldings for these reasons?: less chance of repairs in the first few years, less chance of buying something with hidden repairs, modern= more attractive to tenants. Would it be "Dangerous" to even pay out of my pocket on the first year to cover all expenses? Newbie here guys im ready to get roasted 😅. Love the BP community thanks for any info!

[Joshua Janus]

Getting yourself into a turnkey, or close to, property that is your investment in definitely a smart way to ease into this game. How are you finding the deals to analyze, and where are you from? Pinpointing newer buildings will definitely decrease your chances of major repairs, but checking in with the current owner and paying close attention to the inspection seems to be the best bet to make sure you know what you are buying. What expenses are you referring to covering completely in the first year with cash?
-Josh