House Hacking- Equity or Cash Flow?

[Blaze Prax]

Hello BP, I appreciate the support, education, and community offered here. I am a 1st-time homebuyer that has been looking for a house hacking opportunity in my hometown of Charlottesville, VA. The market here, similar to many other markets, has skyrocketed recently. I recently found a 3/1.5 condo with 1,800 sqft that could easily be rented for $1500 /mo. I am looking to convert the basement into a separate little living area for myself using about 400 sqft tapping into the kitchen and bathroom upstairs for water and sewage. The issue is, I am having a very hard time finding a property that will positively cash flow. This is my first property, and have heard David Greene say that for someone my age, 21, I should primarily focus on equity rather than cash flow. It has a cash flow of -$150 /mo and prospected equity of $56k in 5 years. Should I be overly concerned with cash flow in this developing part of town or just get my foot in the door? Secondly, this is calculated with the renter paying utilities, are there any recommendations on how to fairly charge the renters the utilities while I am house hacking the basement? Any and all comments and suggestions are greatly appreciated!