Househack Advice for first time buyer and investor

[Alexandra Belle]

Hi BP I'm a first time homebuyer & investor starting my real estate journey. I want to house-hack as my first deal. Duplex or triplex. What advice can you give me? I heard to steer away from big banks and get a 30 year conv from a local bank. A lot of the multi-family's in my area are in need of renovations. What type of loan would allow me to buy the property and renovate it? Is a conv loan the best route to take? Should I seek out a private money lender from my Facebook investor group? If private money, what's a fair jv agreement to present? I want to keep this property long term.

What are some things to red flag from a lender? What are some things that would make a lender favorable? What's a fair rate and what's a red-flag rate from a conventional lender?

I know to shop around but I don't really know what's up or down in this industry yet so I'm all ears to any advice or stories you have for me!