How do you Analyze a househacking scenario?

[Jason Scharf]

Hello,

I have researched the forums and have found mixed answers, so I'm just going to post the question. How do you quickly analyze a property if you plan to househack? 

Fictitious Example Property 1, 4-plex:

$1,500 monthly mortgage payment

Rent amounts are listed as follows:

Apt 1: $650

Apt 2: $650

Apt 3: $650

Apt 4: $650

Gross Income= $2,600

Using 50% rule:

$2,600 Gross Income - 50% expenses = $1,300 Net Operating Income

NOI $1,300 - Mortgage $1,500 = - $200

What if I wanted to live in one of the $650 units?

Thank you so much in advance!

-Jason