What's your experience with FHA House Hack?

[Benjamin Pifer]

I'm looking at a 4plex to buy and owner occupy using the FHA loan. It's in a good part of town and is in really good shape already. I would like to purchase it though and make big improvements to it to make it more attractive and be able to raise the already below market rents on it. I was just wondering what everyone's thoughts were and experience has been doing this? How big of improvements did you do? Did the property appraise for much higher? etc. Thanks!