House Hack - What should I shoot for in Reserves after Move Out

[Zac Kucharek]

-first time home buyer, looking to buy in Medium sized Metro area, 2-4unit property to live in one and house hack, then move out after 1-2 years.

(Question)

How much I should aim for in reserves for a house hack after move out. Looking for a 2-4 unit duplex and plan to put 5% down in the coming months here. I am analyzing deals in the area and with interests rates quite high (Approx. 8% at time of writing for 30yr fixed) and asking prices that don't reflect how powerful an effect the higher interest rate has on affordability. My goal with the live in portion to House hack would be to reduce my rent costs as much as possible, but as a long term investor I want this property to at least cover all expenses upon move out. I realize cash flowing properties are difficult to find, but I don't think something that at least breaks even after moving out of owner occupied portion of the house hack should be unattainable? But maybe in this market it isn't with 5% down. 

I have been able to find some small multifamily deals where after moving out and renting out they do cover the PITI + PMI with 0-100$ left over as reserves, but are still are quite often 500-750$ away from covering vacancy and capital expenditure reserves. So, there have been a select few that 'cash flow' after PITI+PMI but does this count as cash flow even, as it doesn't cover important reserves such as vacancy and cap-ex? Most deals currently at prices and interest rates available don't even cover the PITI+PMI in my area for a 2-4 unit, which for me are not even a 'deal' at that point.

Overall, just wondering your thoughts on this and what I should aim for as reserves vs. pure cash flow after vacancy/cap-ex. Or since I am just starting to get into a property that even breaks even after PITI+PMI initially is a good start?

Thank you for all of your thoughts and comments in advance.