Google the FHA self sufficiency test.

Has your lender looked at the FHA self sufficiency of 4-plex before saying yes?

-Max You can use an FHA loan to house hack a 4-plex, but be aware of the self-sufficiency test. 75% of the rents from all units must be able to exceed the mortgage payment. 

And by the same token, I assume you find PriceLabs much better than Tokeet's dynamic pricing tool?  

Of course the monthly cash flow is negative, and it’s unclear whether the income generated in the future will be sufficient to generate a positive cash flow.  

That being said, you should be executing your business plan, holding sufficient reserves, and monitoring market rates.  

I would look into new construction duplex along the Austin/San Antonio corridor that area is booming and $275K will be more than sufficient for 20% downpayment on a couple of units. 

Or would a simple SFH (single family home) be sufficient?

It will also count the rents as income to offset the mortgage payment.If its a 3-4 unit, then the other 2 or 3 units must pass the self sufficiency test, meaning that the rents must cover the PITI payment.

I would personally be leery of T&M contracts unless there was sufficient oversight.