Planning on House Hacking and wanting to hear your experience

[Harsh Patel]

Hello Everyone, 

Since I live (rent) and work in South Orange County CA, buying my first investment property in this area is very much out of bounds for me given the astronomical prices. However, I am considering entering this market through the house hacking strategy and have started my search for a small multi-family property.

At present, I don't know much about how house hacking works (especially, in Orange County) in terms of qualifying for a FHA loan as well as any other specifics. I plan to research a bit more about this strategy, but figured it won't hurt to start looking for deals in the area regardless.

I would be interested to hear from anyone who has tried (successfully or not), house hacking strategies themselves. Maybe share their best (or not so best) experiences, important things to consider, useful tips for newbies like me?

Thanks