Live-in Flip vs. 2-4 Unit House Hacking

[Greg Zunich]

I have been looking to buy my first house and want to find a 2-4 unit to house hack with. Everything I have found thus far will cash flow when I rent it out when I move out and will be about break even, some loss, if I self manage while I live there.

It has been difficult to find a property and it got me thinking about any other potential options out there. 

My question to everyone is what is a better way to live for near-free; House hack by buying a 2-4 unit and living in one of the units or find a property to live-in flip?

I have very quickly run some numbers and it seems that you can make money with a live-in flip if done correctly but I see much more risk from a beginner rehabber's perspective. Can anyone speak from experience with either method?