FHA 4 plex househack. Am I confused? Benefit from inflation?

[Nicholas Daniels]

Hi BP! I’m new to the idea of real estate investing, but I’ve got a few question.

One interesting thing I've read is using an FHA loan on a fourplex, then living in one unit for a year is possible. And I think it's a good idea. But I'm a little confused on something.

Let’s say (for simplicity) I buy a fourplex worth 100k with 3.5% down ($3500). Then, due to inflation, the house goes up in value $3000 dollars (which is appreciation I gained because I now own the property). Did I not just make an ~85% return off of inflation (assuming not other costs)? Because that inflation is on money that’s not mine, so I capture the benefit?

Also, can I do an FHA on a quadplex, get 20% equity then convert it to conventional then do it again? Should I hire a property manager for a property I live in?

Thanks!