House Hack Advice

[Drew Markert]

Hey BP! 

I am a recent college graduate and have been studying REI for a few years. I am currently living at home to save money (and because it's really close to my work), however I am looking to house hack a small multifamily property within the next year in the Milwaukee area. I have a few options that I am considering:

• Should I purchase a duplex or wait until I have more capital saved for a triplex or fourplex
• Should I purchase something turnkey, or something that needs a little work, but isn’t a total rehab job.  I would most likely hire out the work, and the main reason behind this would be to add equity to refinance down the road

My plan is to keep the property after I move out as a rental, and I would prefer the rent to cover as much of my living expenses as possible while I am there. Long-term, I have goals in place to be financially independent by the time I am 30 (I’m currently 22) and my focus is primarily buy and hold investing. Any advice or shared experience is greatly appreciated!