Young Newbi Looking to House Hack

[Quenten Durbin]

I’m going to turn 21 in august and currently live with parent’s. This allows me to put $400 a month in savings from my $1100 a month job.

I also am making a couple hundred a month selling on eBay and amazon. I purchase my inventory though PayPal credit allowing me to pay nothing upfront while avoiding interest as long as I break even within 6 month. I also might look into food delivery to make a bit more cash

Looking to at a 3Bed 1.5Bath with 1Bed 1Bath cottage that I could move into and rent the 3B out to friends. It’s listed for $99K and doesn’t have many pictures however the picture show that it could use some work.

I have about $7K savings right now and I could make a couple thousand quickly selling off the remainder of my inventory and a cheap turd of a second car.

Im looking at probably financing the house with an FHA loan with 3.5% down and a slightly above 640 credit but I'm getting estimates from high $400 to upper $900.

Property should cash flow a little over $100 with at least $1200 if I decide to move out and rent both units

Do you think I should look into this property as far as getting an agent and going through the buying process or should I just wait to build up my savings?

I live in Mount Vernon OH