Newbie looking to house hacking a small multifamily in Austin, TX

[Ben Kagel]

Hi: I currently rent in San Jose, CA and am looking to move to Austin, TX with the primary short-term goal of cutting my living expenses in half. My plan is to purchase a duplex (may consider tri or quad too) and house hack. I'd use an FHA loan to finance the purchase, which would save most of my cash for any rehab costs and reserves.

I've been running MLS listings through Dealcheck. So far, none of them cash flow when assuming all units are rented. On the other hand, house hacking will definitely satisfy my short-term goal, so I can increase my savings rate for the next deal.

Is it too risky to execute on a deal that won't cash flow after I move out likely after a year? I'd probably be gambling on appreciation, refi after a decrease in interest rates, or forced appreciation / rent increase via doing a rehab the first year. 

Any advice on this plan in general? 

 Bonus question: Any CA to TX folks out there with thoughts on the cross-country move? I've only ever lived in CA but have visited Austin and could see myself living there.