North of Dallas Texas House Hacking

[Daniel Mina]

Hey All,

I'm looking for the best way to find a small multi-family in the North of Dallas, TX area (Richardson, Garland, McKinney, Frisco, Princeton, Melissa, Allen, Plano, Murphy, Irving, Wylie, Sachse) to move my family into while house hacking. Ideally, I want to use an FHA loan and be able to add some value after rehab. My wife and I have decent capital and we could go for other financing, although our options are limited as we do not currently own a home to tap into. I've enlisted the help of an agent. Does anyone have advice on good strategies in this market to find small multifamily besides going through MLS listings with the help of an agent? Any input on what to look for when it comes to numbers would be helpful (I am still getting an idea of the different market ARVs, rent-value%, cap rates, etc., although small multifamily seems to be more challenging to comp than SF). Any advice/direction is appreciated.