House hacking advice in Denver market appreciated

[Dan Sheeks]

Hello all - my fiance and I are new to the buy-and-hold world (we have a few properties) and are smart enough to know that we don't know everything.  So I'm seeking any advice from more experienced investors about our strategy below:

We have some money to invest and are also currently renting our primary residence. We are thinking of house hacking and buying a 2 to 4 unit property in the next few months (while, of course, running the numbers to make sure it's a solid investment opportunity for us). Since we will be living in one of the units, we are hoping to do an FHA loan and only have to put 10% down on the property. We are not exactly sure how long we would then have to live there - 2 or 3 years? Does anyone have advice as to the best financing option? Or any other advice for this strategy? Thanks! Dan

[Dan Mackin]

@Dan Sheeks if you have already been doing some buy/hold then house hacking won't be a ton different. As James said, you shouldn't need to do 10% down unless you want to. For 10% down there are some conventional loans that can be dug up for multiplexes if needed. If you want the FHA then 3.5% is your bottom end. Stay for 1 year then move out if you can do it correctly. Multifamily in Denver right now is a tight game, but good ones do come up once in a while.