House hacking as a grad student?

[Madeline Work]

Hi all, my name is Madi and I'm a newbie investor! I've been a part of the BP community for a little over a year now, but haven't started yet as I'm still in college and haven't made the first leap. That being said, I don't want "being in college" to be an excuse for myself anymore!

I will be attending grad school this August 2022 in Dallas, TX for a year. I've always thought of doing a house hack as my first investment, financing with an FHA loan as I don't have a steady income stream yet. Since there is usually a one year requirement to live in a home with an FHA loan, living in a multi-family property for a year while I attend school would be a perfect way to "knock out" that one year. However, I am concerned that it will be very difficult for me to have enough time for school, as the curriculum is very demanding, with self managing my property.

For some background, I plan to use my degree to increase my salary for my W-2 and save that money to put more money into real estate, as my goal is to be financially independent using my real estate investment income 10 years from now.

Anyone else out here who has done this, I'd love to hear your feedback on how you were able to manage your time/tenants accordingly, as well as how you were able to fund the deal. Looking forward to connecting with this community more in the near future!