House hack or continue renting?

[Seth Roland]

Hello, just getting started here. I just wanted to hear people's thoughts on whether to look for a house hack opportunity or to keep renting and look for a rental property deal. My current rent I pay is only $500/month. So is it worth it to house hack a multifamily property? Or is it better to capture all the rental income while continuing to pay my current rent at $500/month? Is house hacking worth it solely to qualify for an FHA loan? I know this is a very general "well it depends" question, but I'm just hoping for some general advice and direction. Thanks in advance!