Finding A New Job In A Better REI Location?

[Charles Giovanniello]

Hello all, as the excitement from my first deal is dying down and my cash flow steadily comes in, I'm looking for more ways to buy my next deal.  I have one idea that i think could work very well and i wanted to run it by the community. 

This is a typical "house hack" where I'm looking to buy a place using either an FHA or 203k loan in an area where i could afford a fourplex that will cashflow with 3 units rented while i live in one. I was thinking somewhere in Lehigh Valley PA, because its not too far away from my family, the area is seeing some major infrastructure improvements, and from my initial research it seems to be a great area for turning solid cash flow. I currently work in Information Services on Long Island and i think i could find a job in that area that would allow me to do this. I would love to stay at my current job but i need to be living in the property to get approved for the FHA or 203k and making the commute from PA to Long Island everyday is not practical. Does this seem like a practical way to help me achieve my goal of financial freedom?

I'm 24 and still live with my mother which is great because rent is cheap for me, but its time to start thinking about moving on and I would so prefer to house hack so i can continue to keep the cost of living as low as possible to continue acquiring assets. Thanks for your time in advance.

[Anthony Lewis]

@Charles Giovanniello have you thought about partnering with someone in the area who could fulfill the "Live in" requirement allowing you to maintain your current living conditions? It will also help mitigate some potential risk and help with management since you do not live in the area.