House Hacking in NJ

[Christopher Morris]

Hello BP, I have been reading up and listening to podcasts on house hacking especially in NJ (Jersey City, Montclair, Bloomfield). As I'm looking for a house hack, I'd really love to live in a decent area (some in Jersey City can be iffy). Has anyone had recent success stories in 2023? 

As home prices in NJ are very high, it makes the decision to go FHA VS live-in Conventional hard for me. I could put a down payment for a conventional (20-25%) 550k duplex, but I feel it could hurt my chances of buying as many duplexes in a 5 year period (for example) if I go conventional VS an FHA at 3.5%.

Any help would be appreciated!