I intend to rent out the units by room to college students (does it sound like this would work in this area and what are some general tips/things I should look out for?).

I would love to have some clarity and steering in the right direction as to the best source for FHA loan information and caveats, as well as any tips for a 22-year-old single investor planning on house hacking for my first real estate investment.

Welcome to the community and be ready for a huge amount of information at your finger tips.

Just a tip - make sure you don't just look at the current property taxes. 

Thanks in advance for any tips or advice you can share :)

While this may not apply to you, but with my CFO clients, the first thing I recommend when looking to invest, is to first look at a city/market where you either 1) currently or have previously lived, 2) have family/friends that live there, or 3) travel to for work or vacation frequently.Are there any markets that come to mind?

You also mentioned you started pretty young, I am 18 and just purchased my first college rental, any tips? 

I do currently rent out a condo, fully furnished on furnished finders, and that has gone smoothly.Any tips, advice, etc accepted! 

Just trying to gather as much information and tips as i can

Fail to produce K-1s in time for LP tax returns to completed on time, refuse to communicate with LPs, when LPs start to express frustration.Cheryl Cheryl, I'm sorry to hear this.Many investors learn expensive lessons with their early investments.Knowing nothing about this deal (because I didn't invest) I can already tell you the 24% projected return was a major red flag (in my opinion).