HouseHack vs BRRRR for first time.

[Alex Pepe]

Hi Guys,

I've spoken with an investor friendly realtor here in my area about helping me find a house hack come July when my lease ends. I currently am paying 1200/month in rent. He says I should expect to still pay around 700/month HH'ing a 4BR house. If I used FHA on around a 350K home, Id be looking at 25-30k out of pocket, to save around 6k/year.

My question:

I'm not sure there is enough margin on 6k/year to justify a HH. Maintenance/repairs could easily erase that 6k and go beyond. If I could get closer to 0-300/month in mortgage payment, then perhaps a HH has more merit to it. Otherwise I'm of the mind to save 6-12 months longer and go into a BRRRR for my first deal.

Very curious to see what other more experienced minds think.  I appreciate the time to respond to my thoughts.