NEW TO HOUSE HACKING (First Time Buyer)

[Austin Olivas]

Hey everyone, I am planning on buying my first multi family property in the spring/summer time. I have already connected with a lender and plan on using an FHA loan. I'm getting real excited about starting my real estate portfolio but I do have a couple questions for experienced house hackers or real estate investor gurus:

1. How can I tell which property will generate positive cash flow?

2. After living in this property for a year, how can I get another loan for an another property? (What qualifications do I need? Good credit? Reduced loan amounts?) 

3. Is it better to buy a remodeled property in a worn down area or a worm down property in a nice area? 

Thanks to those who answer my questions in advance!