Multifamiliy Househack vs SFH New Construction w/ discount

[Jesse Wolf]

I am faced with two options atm. I can either househack and owner occupy a 3-4 plex w/ FHA 3.5% down, or I can get a brand new construction home with a 10% discount. With the SFH I'd put 5% down. My credit is good, my MI on the SFH would be extremely minimal (less than $30/month)

I am pre approved for either scenario and currently living with a friend. I just rented out my previous SFH and moved to the Northern Seattle area.

Cliff notes:

-I'm in the Seattle market

-My discount would get me approx 40-45k in instant equity with the SFH

-Any 3/4plex I'd buy looks like it would not cash flow, at least not initially. I'd be paying somewhere around 1k a month to the mortgage from my own funds, however thats on a 750k-1mil property.

What are your thoughts, and which would serve me better long term?

Thanks BP!