Looking to house hack / move to Minneapolis/St. Paul. Help?

[Chad Gardner]

Hey everyone,

We are a young family (8yo and 10yo), and are looking to move to the Twin Cities. My wife's sister lives in town and we want to join them. We also want to take the opportunity to start investing, and house hacking seems the way to go. We are looking to get a 2-4 unit place by this summer, ideally in Mac-Grove, Highland Park, or South Minneapolis. I'm part way through Craig Curelop's book, and starting to see what the market is like.

It seems like a lot of the properties will have negative cash flow even after the first year when we move out. This looks like a combination of interest rates and just relatively high prices still (e.g. most duplexes I've seen start at around 600k). Is that normal? Does that mean the market is just too pricy for a good house hack right now? Have you had success within the last year or two house hacking in these neighborhoods? Any thing to point me in the right direction would be great!

Thanks so much,

Chad