Still Looking for First House Hack/Future Rental

[Evan Gross]

I'm in Central New Jersey, Mercer County. I've done several wholesale deals, fix and flip, bought tax liens, and did a private money loan. Most of these were in areas I wouldn't want to personally live in. I have yet to buy any rentals, and I'm currently renting. I don't know why, but I still haven't bought a property to live in. I was inspired by Biggerpockets for a while to house hack, but there doesn't seem to be too many multiunits in my area. I need to start buying a house hack and rentals asap. I am qualified for a 203k loan and can probably qualify for conventional loans as well, as I work full-time as a Registered Nurse (RN) in a hospital.  I need to start getting cash flowing property, can't be working as an RN forever. The stuff on the market is overpriced, so I'm thinking off-market may be the best way to go.  Any recommendations on the best way to go about getting a primary residence at this time that can be used for house hacking or rental in the future? 

[Evan Gross]

Originally posted by @Jonathan Greene:

It's very hard to buy off-market with a 203k loan even though it might match up well for some sellers. You can do fine with a 203k loan on-market for a house hack multi when you find the right fit. That fit is too much work for a regular house hacker who does not have a reno loan and it can't be lived in as-is and not enough meat on the bone for a flip for a full-time investor or contractor. You may be focusing on the calculations too much and not assessing how well you can use the 203k and what will work for those.

Thanks Jonathan! I'd like to do a 203k or fannie mae homestyle or even something regular. I just need to get started. I want to live in a property for a year then get another. I have experience with wholesaling and fix and flip but need to get my own place somehow that would make sense as a rental after I move out. It's tough finding a good on-market deal right now. All my deals I've done have been off-market.