House Hacking Financing

[Brian Bertschi]

I am new to BP and Real Estate in general. I am looking to buy my first investment property. I am looking at multi-family (2-4 units) and house hack it (owner occupied one unit). My market I am looking to do this is St Louis, MO. I’ve heard you can get financing as low as 5% down for a property doing this rather than traditional 20% down. I don’t want to eat up all my capital in case cap ex or some vacancy would happen. How long do you have to wait before I can rent out the unit I would be living in to increase cash flow? Is it a time limit like months or years, or is it a certain % of the paydown on the loan? Any help would be greatly appreciated.