That isn't to say it's impossible, just extremely hard to find someone to sell you a property for 70% of value that is in perfect condition.

You can drop PMI later for the cost of an appraisal and keep your current interest rate even if future-current rates are way higher (6.5%-7.5% are historically perfectly normal owner occupant SFR interest rates), but the higher fixed interest rate on the "no PMI" plan is just that... fixed.

They should be perfectly safe providing a drunk tenant does not fall asleep with their face on it. 

This seems counterproductive since every lender I've ever spoken with says that my credit and down payment could be perfect but the proven cash flow of the property is single most important thing for getting a commercial loan.How do I get my realtor or the seller to understand this without seeming like I'm trying to get something for nothing?

Perfect.

This does not really seem to be the case from what I'm hearing, so I would be hesitant ... you may get away with it, but maybe not.

I'm looking into purchasing a single family home, The platform is perfect to add a few kitchens and walls and turn it into a duplex or even a triplex.

Jackson is a perfect place to invest.

Perfect, thank you!

So house hacking seems to be a pretty viable strategy for newbies, but finding the perfect multi in your neighborhood can be tricky.