If you can live for free and only pay utilities AND buy an investment property, that would be ideal in terms of savings and cash flow.If you can't stay and your parents want to make some money on that property, then yes, house hacking would be your best option especially since you don't want the best place in the multi.

@Asma Shah check out @James Wise with Holton-Wise.Their website has a ton of good & bad info regarding S8.

Separately metered with tenants paying all utilities.

You will learn a ton with your first property. 

You can make great profits flipping houses, but you can also lose a ton if you don't do it right.That said, I encourage you to be in touch with an investor friendly agent in Indy.

Do a ton of due diligence bc that doesn't cost u anything but time.

Additionally, if you onboard a new units during the 1 year mentorship you can utilize the team to help you be profitable from jump street.

Quote from @Donald Hatter: Pros:- Builders have many homes to sell at one time so it is easier to negotiate a better deal than with a home owner in the same neighborhood who is trying to sell their primary residence - Buyers bust out of deals all the time and builders don't like holding completed homes- Lower maintenance which leads to easier property management expenses.  

If utilities are present, the property is worth what other bare land properties in the area are worth.

@Shawn NofzigerHi Shawn,I came across your post and while I am a long way from Lansing, I work with a ton of new and aspiring investors and the challenges they have getting from idea to action.