House Hacking Long Island, NY

[Natalie Weyant]

Hello BP Community!

SO happy to have found this platform and very excited to get started in my path to financial freedom! I am looking for some advice and guidance and I believe this is the right place to start! 

I work as a full time nurse and make decent income, my boyfriend work for the LIRR. We are looking to house hack in Long Island NY, specifically Suffolk county around the Ronkonkoma area. Unfortunately it is extremely expensive to live here even with an FHA and my bf and I are unable to relocate at the moment. My question is, would you suggest house hacking in this area? Or is it not worth it because of how expensive the housing prices are here?

I have also been contemplating buying a coop/condo instead with an FHA loan. Monthly payments would be much cheaper and I would be able to save enough to invest elsewhere. I have a family member who is a real estate investor full time and doesn't live here, they offered to help me invest where they live.

Any advice would be greatly appreciative, thank you in advance! :)