I really want to house hack for my first home, but was advised that I should stick to the areas I know and not move to a state where I do not know the area.

-Upfront mortgage insurance premium (UFMIP) of 1.75% (financed into the loan amount, like negative equity)-Higher rates than Conventional (assuming 720 credit)~You can only have 1 FHA loan at a time (there are exceptions though) so you'll have to refinance out of it if you want to house hack multiple 2-4 unit properties. . .

Your equity growth over the decade will be substantial and will outweigh any trickle of cashflow from the Midwest, no question.Or house hack in a nicer neighborhood.

Stabilizing your monthly expenses by getting a mortgage/house hacking and now no longer being subject to rent increase is a great idea.

We want to co-own 50/50, my income is from Canada and I would house hack and only put 5% down payment. 

If you want to house-hack for a few years sure, that's fine.

We are looking to house hack, however, we want to make sure it’s a great cash flow.  

Iv been looking on the MLS and everything in the area are overprices SFH or condos,  I'm looking at something suitable for a house-hack or BRRR.

@Joshua GibbyGreetings neighbor from the other side of the metro, Cherokee County 🙋🏻‍♂️House hacking might be your best route.

Wait until April of 2023, keep the condo as a rental, and house-hack into a duplex.I'm leaning towards option (1), but I would appreciate any advice!