@Noah Herrin welcome, it's definitely a valid concern for many investors based on the current market in most of the US. The biggest thing is determining if the numbers make sense, regardless of the list price. I completely understand that prices are inflated to some degree, despite the potential for property values to drop in the coming months/years. Try not to over leverage yourself, you don't want to be in a position that forces you to make unwise decisions. Having the ability to screen tenants the right way is very important for your long term success, in addition to having money in reserves for unexpected repairs and maintenance. The fact that's your first property and ideally a house hack gives you more wiggle room. You goal isn't to fix and flip or wholesale, you plan on living in the property for an extended period of time and reduce your living expenses. Even if you have to pay a few hundred dollars per month or break even to live in a property you own, it's still better than paying 2-3 times that amount in rent for an apartment every month. Not to mention all of the tax benefits, appreciation, etc. that comes along with owning rental properties. Considering multi-families are in high demand which is driving the prices up, looking for hidden opportunities as you mentioned is ideal, 2 bed homes over 1,000 sqft, unfinished basements, or extra rooms you can rent on airbnb. Hope this helps, good luck!
