House Hacking as a Beginner

[Will Crayger]

Hello BP,

I was hoping to get some feedback on an idea for a house hack. A bit of background information:

• Currently own a home with my fiance'
• The house was financed solely by me using a DPA Bond / Conventional loan

The idea:

House hack a duplex, possibly a triplex, by purchasing the property via FHA loan with my fiance' as the sole applicant. This is where the grey area begins for me. I understand that with an FHA loan the property must be your primary residence for a year. That being said, the idea would be to rent out all units except for 1, essentially keeping the unit vacant (but listed as her primary residence for a year), before renting out the unit starting year 2. Obviously, the deal would have to be such we can cover most if not all of the expenses off of the rented units, but if not, could we possibly AirBnB the unit listed as a primary residence to make up the remainder of expenses, or for additional cash flow? 

Forgive me if this is an ignorant question, I'm trying to find a creative solution to begin our journey. 

Thanks in advance.