Mortgage Insurance Premiums(MIP) on FHA Loans?

[Adam Juodis]

I'm looking into possibly doing a house hack. While reading my book, the discussion about MIPs came up, and that there is a possibility that a good deal can be made bad due to high MIP fees when using a FHA loan. What i got from it is that during the time of purchase, part of your downpayment goes to the MIP, and after that you pay towards the MIP every year. Needless to say, the book did not do a very good job explaining how that can ruin a good deal.

Lets say I bought a triplex to house hack in and the purchase price was 300k. Knowing this, can i tell how exactly will I be affected by a MIP? Thank you for helping me clarify!