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Updated over 4 years ago,
Beginner Questions- Jacksonville, NC
Hey all, I have been following for a while and am finally in a position to dip my toes in. I'm getting stationed in Jacksonville, NC and want to get into house hacking. Very limited multi-family deals, so I've been looking at single family properties. I'm confident I can make house hacking work while I'm there and renting by the room, however when I start to look at renting as one unit I'm hard pressed to find anything with positive cash flow.
With VA loan benefits and current interest rates, I feel like I have a good opportunity, but rent in the area seems pretty low and inflexible. I'm seeing lots of 180-200,000 properties renting for 12-1300 and 140,000 area going around 900-1000.
Am I looking at something wrong? Is this just not the market to get into? I would hate to waste the opportunity of the next 3 years or so, but I would hate more to get into a bad situation right out of the gates.