Analyzing a small multifamily property house hack

[Victor David Ward]

I want to house hack a small multifamily. I see a lot of people talking about living rent free and that would be great. I could save what I'm paying now and put it towards future deals. I've been trying to use the BP Rental Calculator to find a property on the MLS that would generate a modest monthly positive cash flow and it has become painfully obvious that I am not going to be able to get there using that math on the available small multifamilies where I live. Not even close. In fact on even the cheapest properties I end up paying more than I pay now.

The way I see it I have only 3 options: 1. Use different math. The calculator looks at things that aren't necessarily cash layouts from month to month (such as property taxes which is the biggest and maintenance and vacancy cost etc.). Also the calculator doesn't take into account any income tax savings I might gain at year end. 2. Find distressed sellers who are willing to sell at TREMENDOUS discounts (I don't see that happening) or 3. Accept the fact that the much talked about positive cash flow house hack is not doable for me.

Anybody got any suggestions? What am I missing? Thanks.