Tips for First REI/House Hack Deal

[Austin Powell]

Hello,

I am beginning the hunt for my first property. I've had my ear against the door of REI for a few years now and I'm finally ready (within the next 12 months or so) to dive in. The main goal is of course to omit my personal housing cost each month as I will be returning to college. Its just my dog and I so more than willing to sacrifice the majority of the property to the renters to maximize income. I am extremely handy with a vast collection of tools so can perform improvements myself. Ideally it would be mostly cosmetic and nothing serious as my free time is fairly limited with work/school. That being said, if it makes the deal make sense I'm definitely willing to take this on. Here are the questions I currently have -

1.) Is it best to find a property that is already divided or has a separate unit? Or a small multi family?

2.) What're some major issues people have seen with this process? Permitting, zoning, finance, etc.

3.) Are there any financing options that are favorable to this process and include construction costs?

4.) If going the conversion route, what are some property features to look for?

Location - Jacksonville, FL (unfortunately, no basements!)

Thanks in advance for any advice/tips!