I would get the FHA loan in my name and my wife and I spoke and I will live in the other home (most of the homes we're seeing are about 35-40 miles away from our current home so I won't be too far that I'm absent from my family) but I don't want my family to have to move out of our current home.

Have you considered how living in one unit and renting out the others can essentially let you live for free?

Quote from @Trystan Clark: Hi everyone, I am getting married later this month, and my wife-to-be and I live and work in the Bay Area.

Regarding the location, I could definitely see keeping it a while and it’s only a few minutes from where my wife and I live now which is a comfortable area.

I currently live in my primary residence (2nd SFH). 

I also live in the Phoenix area and just got my real estate license.

Of course, this is a personal decision as well to determine if that is the right living situation for your family. 

I'm originally from Round Lake, live in Wauconda now, and my office is in Palatine!

She’s not living in it.

It may be tough to find a property manager, and I would expect that you'll have a few additional fees when it comes to the rent by room strategy.I'd encourage you to think about managing the property yourself when living there as the landlord, and would be happy to share some of the do's and don't's that I ran into self managing a few house hack properties.