One major drawback of house hacking in the same unit as your tenant is the fact you two may not get along.

the one drawback, as you have noticed is that your $100k duplex will be worth $100k 5-years from now...same story in a lot of Ohio locations with low price points...properties are cheap for a reason.

The only drawback of an FHA  loan is that it requires an FHA certified inspection, Many times I'v seen FHA loans get denied due to their stricter pass inspection requirements.

Both have drawbacks to their advantages.

. $6000 (1st month rent+ deposit)Other than that the biggest drawback is lack of control and risksI've been doing arbitrage for 1.5 years now and so far I have shutdown TWO arbitrages#1  HOA rules shut my first condo after 1 year.   

IMO it has some pretty significant drawbacks.

Are there any draw backs to doing so?

I understand most people get LLCs, but there are some benefits and drawbacks (e.g., financing loan terms for one) and I mostly just hear to do it because of fear of liability.

I do see a draw back in the PR area.

The only drawback of RentPrep is that you have to ask tenants to fill out a paper application, scan it then email it back to you.