Can I house hack in Brooklyn with only $25k down?

[Alyssa Kruger]

Hey everyone, I wish to move to NYC next year and want to live in Brooklyn. I currently live at home in FL and will have $25k by the time I wish to move. Using rocketmortgage as an estimate, I am able to purchase a property for $310,000. My original plan was to buy a 2/1 condo or apartment with an FHA, and rent out the other room however, I've learned that's almost impossible since most condos are coops and do not allow subleases. What other options do I have to house hack? Is it possible given the cash I will have on hand? Is a conventional loan doable in my case? Thanks for the help!

[Gregory B.]

You can technically sublet under the roommate rule. Under a coop you have a lease so it will apply, I am unsure whether it would apply to a condo, but you should look into it. Also, if you have a 2-4 unit building for 300k here then it probably needs a $1000000 worth of work or there is some else drastically wrong, even if you are in the worst parts of the outer boroughs.