Can a house hack be profitable?

[Eric Bradeis]

So I'm looking to purchase my first property with the intention of house hacking using a FHA loan. Looking at 3 and 4 plexes and I finally found one that I really really like that has 3 single bedroom units that my family and I would occupy one that has so much space and 4 additional small rooms on the 3rd level that can be converted into 2 more bedrooms making it a 3 bedroom unit by framing out doors and closets. The current owner uses the rooms now for basically storage, an office, n one is set up as a bedroom. N the other single bd units that are both currently occupied with tenants that have been there 3-4 years. But after importing all the expenses and income, it's -$893. I'm not necessarily looking to live expense free, but I am looking to spend somewhere between $400-700 out of pocket every month. Is this unreasonable? Or what exactly SHOULD be my expectations? I've heard of ppl having no out of pocket costs house hacking duplexes, so that's y I am a lil unsure... I'm in south New Jersey just to give u an idea of the market. What should I be looking for as far as expenses? If the property doesn't cash flow, than it's not a good deal? Any input would be appreciated! Thx...