Newbie Looking to House Hack in So Cal

[Ciji McBride]

Hi Everyone! I'm finally ready to jump into real estate investing. I want to buy a duplex, triplex, or 4-plex and house hack (live in one unit for 18-24 months). I figure since I'm a first time buyer this would be the best way to get financing (I'm thinking I'd probably qualify for an FHA loan). I also have the added benefit of currently living with family, so if I find a deal in a not-so-great area I won't have to live in it full time while I fix it up (because an FHA loan requires the property be owner occupied for 2 years). I have a plan but I'm foreseeing a few obstacles: first, I have a home business so my income is stated. Secondly, my credit score isn't great. Last time I was pre-qualified was about 5 years ago, and that amount was $200K, but that was for a personal property, not an investment. Next, If I house hack, the property needs to be at least a 2-3 hour drive from Los Angeles. I'm not finding any suitable multi-family properties in So Cal under $200K. The average here seems to be $500K. I haven't really spoken to a broker or mortgage lender about my current situation because quite honestly I'm worried I'll get laughed out the office.

I know there's a deal out there for me or maybe even a better strategy than house hacking. I can continue living with family for the next year if I must, but I wanted to invest in something before the end of this year (2017).  I'm sure there's an angle or resource I'm missing. Can anyone offer me any advice? Is there a better why to go about it? If there's a better investment strategy I could use, please let me know.
 

Thanks in advance for your help.