House Hack Portland Oregon

[Trevor Howard]

Hi, I am looking to do a house hack in Portland Oregon more specifically within about a 15 mile radius of Gladstone and wanted to run my thoughts/numbers by some people and see if they seemed reasonable. I am looking for a 4 bedroom home with a garage(to use as a bedroom for myself) or 5 bedroom home for a max price of 350k. I am pre-approved for a 3% conventional loan and would be looking at PITI+PMI=$2238/month i was then adding a total of $388/month for capex/repairs/vacancy. the plan would be to rent 4 rooms out for a minimum of $600 per room and then I would be paying $226/month out of pocket still. 350K is the max I believe it would be reasonable to pay but Ideally I would be looking for something for 300-325k that needs some basic repairs (paint/new carpets/etc) and I could be living for just about free. It seems to me that I am able to find homes that fit this description for around 325k but since this is the first home I will be purchasing I am not certain that I am not missing something. Any thoughts or opinions would be awesome!

-Trevor