First Purchase advice

[Jacob Ramsey]

Right now I'm looking at several options for our first purchase. I like the idea of a multi-family property, but I'm not sure it makes sense given the location and uncertainty of how long we will be in Austin. I have access to a VA loan, and we both have sterling credit and plenty of money set aside for a down payment.

I work near 183 and 45, and my girlfriend goes to school at UT (1 more year) after which she has to work for 2 years as part of her scholarship.   So we will be in Austin for at least 3 more years, but are not sure how much longer after that.

I would like to get something somewhat close to my work so that I could bike daily (it doesn't have to be that close... I bike 16 miles from Mueller without too much problem), as it would save having to buy a car for her when she graduates.    

I'm tempted to just buy a condo as there are several near Jollyville / Mopac that are under $200k that would be less / month then we are paying now for rent.  However I really like the idea of house hacking to build wealth... I'm just not sure it makes sense right now.  It seems like there are plenty of multi-family properties in South Austin, but the commute is un-appealing.  Properties near where I work are extremely expensive and there seems to be a shortage of them.

Any advice?