Does househacking work in the GTA?

[Joseph Shin]

Quick look on the MLS shows that multi family housing prices start at min 500k for a terrible condition home.

Ideally I would like to buy a duplex or triplex as my first property out of university but saving enough for a downpayment and repairs is going to be extremely difficult and even then, am unsure if the rent income is sufficient to cover a mortgage payment, taxes and other expenses.

Should I wait until the market drops?