Preparing to Invest Far in Advance

[Yaniv Tivon]

Hi everyone,

Newbie here looking for some advice far in advance. I'm planning on moving to NYC (Brooklyn or Bronx) one year from now and  buy a multiplex to house hack. I have a few questions I'm hoping someone more experienced could give his insight on:

1) I have the capital for the down payment if I get an FHA loan, but, as a graduate student, my W2 salary (stipend) is laughable and my DTI ratio would likely be too low to have the loan approved. However, I'll be starting a higher paying job once I move. If I show the lender an accepted job offer from a reputable company, is there a chance they would waive the DTI requirement even though my income would not yet show on my W2?

2) If I buy a duplex and the unit I live in has an extra bedroom, can I rent it out for extra cash flow? If so, is it a good idea?

3) For people familiar with the areas I'm looking at: has anyone been able to break even (live for free) house hacking a duplex? 

4) Besides education, is there anything else I can do in the meantime to put myself in the best position possible to start investing a year from now?

Thanks in advance!