House Hacking in Los Angeles County

[David Kuo]

Hi all, 

Total newbie here looking to get started with investing in real estate and thought one of my first goals should be house hacking in LA. I would like to stay in LA because gf is a nurse and I would like to keep her commute short. That said, I did some quick search and believe the right properties should at least be a triplex priced below 1.5MM and hopefully in an area that I can get the lowest vacancy rate/better tenants. 

Is house hacking in LA a good idea at all in this economy? I am afraid of finding a property that allow me to barely break even, then lose value due to the current economy. What are some good metrics to look at to decrease vacancy rate and increase changes of finding good tenants? Pointers to books to read and websites for data would be very helpful. Thanks BP!

David