House Hack and Rental - GA

[Jeff Brown]

Good morning everyone, I am looking at a property currently in North Georgia right outside of 285 Loop. Wanting full asking price at $370,000 and I am looking to Potentially how tax this new blank that's in a great school zone. The one of the current tenants is on a month-to-month lease and the other it has a contract until 2022 and they are both renting for $1000 a month. I believe with the great school zone that it's in and the area that it's in that you can up the rent to close to 1300 to 1400 bucks a month but not guaranteed. (after a fresh coat of paint and maybe some new flooring) I believe if I lived in one and rented out the other after one year I could move out and cash flow pretty well on this property, and get a 30yr. the only thing that I am concerned about doing is putting a large 10% to 20% down payment on this property knowing that I won't cash flow the first year because I will be living in it. Also not sure my COC return won't be great? My current expenses are about 2600/month where I currently rent.

Any thoughts on this deal or concerns? Should I pass and try to figure something else out?