I’m sure someone could have an argument against this but hackers also scare me.

Some hackers purchase with an FHA loan then refinance into a conventional so that they have the FHA loan available again to purchase another property. 

Hey Ryan,The Head House Hacker himself!!!

From my experience working with house hackers, here are the reasons folks have used the strategy when building/growing their NYC portfolio:- They can get in with a low down payment - You can get into a multifamily property property in Queens, Brooklyn, the Bronx, and Long Island with less than $35K.- They can significantly lower their current living expenses - People currently paying ~$2K/month in rent can pay as little as half of that for their portion of the mortgage (after collecting rental income).- They gain acquisition, project management AND property management experience - all which will help tremendously when its time to scale and grow the portfolio.- NYC properties appreciate higher than most parts of the country - of course, this should not be relied upon.

It is just a coincidence but there's this story in tweeter from one lender how investor is doing overleverage using HELOC.John Downs - Mortgage Advisor@AdvisorJohnA real #RealEstate story the RE Bros won't tell you.To keep this short, it is the story of a house hacker who now owns 5 houses since beginning his journey in 2020.

That is every house hackers in SLC’s dilemma.

3) Where have other house hackers found success in finding tenants?

I'm a 2x house hacker here in the SFV and now invest out of state.

And if it goes that way, it's probably in your favor anyway, because a duplex with one vacant unit will sell to an owner occupant house hacker while both units rented will sell to an investor, which usually means a discount.

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.Good luck!