You just increased your net worth by almost 50k, get additional monthly cashflow while your tenants are paying your self eliminating debt down and you enjoy some nice tax benefits.

There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search, especially in expensive markets like ours.

There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search, especially in expensive markets like ours.

This eliminates purchase issues, property condition can be addressed along with disclosures that may be required.

By paying all cash up front, I've eliminated HML's, and the added cost.  

There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search, especially in expensive markets like mine.

The way around that is to eliminate payments.

When you hire the PM you may be able to write into the agreement that they hire the one you chose and it may give you a bargaining position to reduce the cost or eliminate the cost for the PM's fees for future upgrades and other properties you hire them to manage.

Other successful people can tell you what they pay labor to do certain things. start getting estimates, but ask for labor only estimates. find out specifics. the more specific you can get someone to be, the more the process of elimination can tell you......Then materials, how much work are you willing to do to find out?

I put together a spreadsheet here to help potential house hackers quickly analyze whether or not a property qualifies.There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search, especially in expensive markets.