House Hacking in Seattle/Bellevue Area

[Mario Mach]

Hey guys, I'm very new to BiggerPockets and RE investing in general. I am very eager to get started and will be spending a lot time learning from you guys around here.

So for those who are house hacking Seattle, I was wondering if you could provide some input. 

 Right now, I am renting a studio in dt bellevue. Paying $2000/mo on rent, and on top of that, they charge another $200/mo for parking. My lease will end in August. My hunch is that the rent will rise substantially for next year. 

I've read about house hacking and I think its a very attractive idea in my situation. From what I understand, you just put down a 3.5% down payment and then you rent out all the units except 1, to cover all the payments (including your monthly rent). 

I'm looking at single family houses, where there are 3+ bedrooms. I plan to live in 1 of them and rent the 2 other ones out to cover the mortgage + misc payments. Since I work in Redmond, I was thinking Bellevue is a decent choice but the area is relatively expensive. Are there other locations I should look into? And is this the right idea?

I would really appreciate if someone has experience could chime in. Thanks!