BRRR for Primary Residence??!

[Jared Ortega]

I would appreciate some advice and opinions on a situation I came across. I recently came across an off market deal in Smyrna Ga. I want the property for my primary residence but will be house hacking by renting the basement. Owner is asking $250k for purchase price and the home needs about $30k in rehab, and comps are in the high $300's low $400s. I recently started a new job and I don't qualify for a traditional mortgage for that amount. However i do have enough for the down payment and monthly payments. This would be my first home purchase, first BRRR, first investment property, first everything. I feel like this is an amazing deal/opportunity to start my investing career and to purchase my first home and don't want to lose out on it. Does the BRRR method work for primary residents or for only rentals, is this a smart idea to use a hardmoney lender to get the property? Im lost and not sure what to do, any advise would be great! Thank you!