Take this all with a grain of salt, but to me when the conversation involves house hacking in an expensive metro area like NYC/NJ the bigger picture is more important than the immediate short term cash flow. 

Is it better off doing that or just getting your own people involved.

If you want to 10x yourself, thing bigger and more creatively....and consider hiring a coach in the area of your focus (see links - first one is from my coach on ways to get into MF investing; the second is an interview I did to share ideas on how I got involved and accelerated my experience, learning and income).  

This group helped to learn the steps of risk mitigation, wealth  and real estate opportunity assessment hence gave me the tools to put "fear" under control.Like the say ....

Otherwise, you're walking into a lot of unknown risks.

Be prepared for a ton of phone calls and "stop by's" in the process if you involve them in the front end 

I love BP because it provides so many people a platform to be able to discuss many issues involved with RE.

The building was a dump and a health risk and you had to be evicted.

Just like any city, you have areas that you should and shouldn't get involved in.

Would it be smart to advertise for 800 and risk taking longer to get a tenant?