House Hacking Loan Options Help

[Brendan Garwood]

BP Community - 

I am currently reading Craig Curelop's The House Hacking Strategy. I am from Michigan and looking to invest locally to use this first investment property as a house hack as well. I plan on using his trailer method to live on the property while still renting out the other units as I am fortunate enough to be able to live that way without much impact to my current life style. I have the financing to put down 20-30 percent but was still looking to get an FHA loan which would allow me to save some money on the down payment and therefore I would use that money that I saved on the down payment to create some forced equity in the property. Do I have to have the 1 property in mind to get a preapproval or can they tell me an amount that I would be preapproved for without having a specific property in mind? How would you guys go about getting a loan for a house hack? Thank you in advance for the reply! It is really appreciated.