House Hacking in NoVa/DC

[Roshan Patel]

Hi All,

I'm new to the forums and real estate generally. I was interested in house hacking in NoVa/DC and was curious about others' thoughts with respect to feasibility and any personal experiences house hacking in this area. I currently have $60K cash toward a house. One of my concerns was using an FHA loan - I heard it's hard to win offers using a low down payment FHA loan since so many people are getting all cash offers or are using conventional loans, is this true?

 I realize I won't cash flow while occupying a bedroom in a single family home, but my main goal is to just drastically lower the living expenses I'd have if I otherwise wasn't house hacking (ideally so that I'm paying around 1200-1400 toward the mortgage). Ideally it would cash flow once I move out.

Thanks!