Ideally, I would love to buy a multi-family property and rent it out, I would consider house hacking but I mainly want to my first property to be one that I can improve on and have it generate income for me.

It just helps... limit your liability to that property.

This type of property has the chance to cashflow, even highly leveraged, in a market where cashflowing properties are quite difficult to find.Could house hacking a property like this work while I am going to school? 

you mention ARV - what is the cost to repair the property to get it to that ARV?

@Keonhee ChoThe Austin area presents challenges in finding properties that cash flow, especially with BRRRR, due to high property prices and rising rehab costs.

that's a simple pitch - you say your name is Shane, you're a real estate investor, and you'd like to buy their property. 

I’m buying the property with equity partners…………..I don’t have any money personally to invest5.

In my opinion, the folks that blindly listed their properties based on the presidential election will force the prices down even further.

Househack a 2-4 unit property.

Quote from @Bryant Brislin: Land in the path of development that may seem a little far out, but your gut/intution and common sense from an urban planning perspective tells you that some day, whether it's in 10 years, 20 years, etc it will be a great long-term position for your family to have and hopefully sell at a signifcant multiple return compared to what you've paid for it.