ATL - Where to house-hack?

[Bernie Liew]

Hi everyone!

I'm new to BP but have been reading the forums for ~1 month now trying to devour as much info about RE investing as I can. I'm interested in moving out from my parents and house-hacking into my 1st RE investment. 

As far as some general criteria/thoughts:

- My workplace is in the Cobb/Vinings area and I would ideally like to be a < 30 min drive to work (though I don't mind if its up to 1 hour away since that is my current commute)

- I'm interested in using a FHA loan to put ~5% of a down payment (3.5% down pmt + 1.75% upfront mortgage insurance premium)

- My target all-in purchase price range is between 200k - 400k 

- I would prefer to live in a 'A' or 'B' class property that I could rent another unit to a young or established professional/college or grad student

- Just from discussion with my friends, a lot of them seem to dig living in areas like Midtown, Buckhead, Virginia Highlands, Brookhaven, Lindbergh.. how feasible would it be for me to househack in any of those areas and expect to generate a decent return in the future once I move out and rent out my unit?

Apologies if this was super vague.. just super interested to get started ASAP! Please let me know if I left out any important details that I can share for better answers.

Thanks!