For example, here in NE PA, you can buy a 4/2 on a lake for under $500K while in CA, $500K will get you a starter home in most cases. 

They could offer different products for single family vs multifamily so it's a good idea to get with a lender to see what they can do that may not be your typical mortgage type.

You need to get permission etc.

Go to GET STARTED > EVENTS AND MEETUPS at the top of your screen.

You can get a normal owner occupied home loan to do this. 

My girlfriend and I are looking to get into Multifamily real estate investing and have also looked into the possibility of house hacking, although a good affordable property seems to be tough but not impossible in this area.

Nice gig.

Those that cannot weather the storm get wiped out.Having cashflow positive properties provides a margin of safety you just do not have with negative cashflow.Why are you focused on buying in your backyard? 

Nice! 

Good luck with getting this tenant to accept higher rent, because you've trained your tenant to think they have a "mortgage payment" that never goes up!