First Time House Hacker - Buy A Short Sale?

[Art Maydan]

https://www.redfin.com/IL/Chicago/10400-S-Claremon...

Would you recommend buying a short sale with FHA to house hack as a first time buyer? This property looks like a good deal. I showed a broker, and he says:

"Remember a short sale can take up to a year or more. What if the rates are higher by then. Your payment goes up. What if the tenants have a lease when it gets approved? The bank can come back and say no to the list price and want a higher price based on recent sales whenever it gets approved."

My thoughts:

-What are the chances rates are significantly higher in the time it takes to close? Seems worth the risk to save $100K.

-If the tenants have a lease, then I don't have to look for tenants?.. 

-What are the chances the bank wants to raise the price? (Actual question for you guys, not rhetorical)

Thank you!