House Hacking for Newbies

[Victoria Coleman]

Hi everyone! I just relocated to Charlotte, NC two months ago. By December of 2020 I would like to purchase my first property. As of now, I am thinking about investing in a triplex and house hacking using a 203k loan because it will cover cost of repairs. I have a few questions.

1. What do you think about this idea? Is trying to invest in a triplex realistic or should I consider a duplex?

2. How should I go about starting?

3. What do you know about the 203k loan? Should I consider other financing?

Thank you all in advance for your knowledge!