How to House Hack with a Family

[Ryan Garrison]

If I had to do it all over again, I would have gotten an FHA loan for a 4plex in the early 2000s instead of buying a SFR with a 95% loan. I thought I was smart because I bought the house expecting to turn it into a rental eventually, which I did. I actually still hold that house as a rental and it cash flows nicely, as well as being worth about double what I paid for it. Not a horrible SFR, but not a 4plex.

Now I am less ignorant about the benefits of House Hacking. I want to find a house to hack, but there is a catch. We now have 4 kids and need a minimum of a 4 bedroom house for us. Our current mortgage payment is almost $3000 and I am tired of it. 

I have never seen a 4plex with a 4br/2.5bath unit. Much less one that is affordable. Have you?

The places I have seen with DADUs are too expensive as SFRs for FHA. I went into RE full time this year, so we need to qualify for the new property with my wife's 90k salary...or get seller financing (my preference).

I am counting on the BP universe to come up with some great ideas, and also to hear from other people with large families trying to House Hack. 

What should we do? 

We can't give the kids back...