College house hacking as a freshman University Of North Dakota

[Landon Joshua Paurus]

Hello all, I am a freshman in college attending the University Of North Dakota pursuing a Commercial Aviation degree. I also seemed to have developed an interest in real estate. I would like to get my feet wet as soon as possible in the real estate game. I have explored the idea of house hacking and I think it will be a great entry point for me. While I am still very much in the education part of my real estate career, I somewhat have a plan but there is a lot of missing pieces for me.

My very tentative plan is to buy a single-family home using the 3.5% FHA loan. I'm looking for a 3–4 bedroom house fairly close to campus and in the ballpark of $100,000-130,000. I don't know much about property management or owning a house in general so the nicer condition the place is in the better. I would then get 2-3 tenants in hopes of trying to live for free and or making out profit.

I have a lot of questions but I will just list a few of them:

1. Will I even be able to get the loan? I've had a job all throughout high school and have over a 750 credit score. I also am just now starting a job at the local car dealership.  

2. Do I let my close friends become my tenants?

3. How much do I trust the bigger pockets rental calculator? I've calculated a few houses in the area and have actually calculated out a net profit per month. I know this is just a calculator and real life is much more volatile.  

4. If I'm sharing the house should I also share the Utility bill?

I am not asking for anyone to answer all my questions, I just want to get a grasp on this thing so any sort of help will be much appreciated.

-Landon Paurus