House Hacking Single Family House

[Gerardell Brown]

Hello Experts - 

I am ready to purchase my first single-family home this year. I have one roommate willing to pay half the mortgage, so I am trying to figure out how to structure my deal. My plan is to use a first-time buyer's loan program, live in the property for a year, and then turn it into a rental property. Has anyone used this strategy before and had success? Thanks!