I plan to house hack my first deal to minimize my risk.

Since I am new, it would be senseless for me to tackle this project as I have very minimal experience.

Luckily I have very minimal turnover which is the devil to us landlords. 

The next thing for you to consider is selecting your office location that is convenient for you and have minimal distractions.Just start off with something simple that you like.  

When looking at new construction properties, it seems like the net cash flow is minimal.

I have pretty low overhead right now (minimal debt, no kids/car debt), and am trying to find the best revenue stream that would create a good ROI.

If it cash flows as arental and needs minimal work you can still buy sub2 and that gives you time to fix it up and secure a traditional loan. maybe even BRRR it.Even if he isn't moving for 6 months you can still get it under contract and close before he has to move.

As Christopher indicated the properties you buy using this strategy are distressed requiring rehab or have very motivated Sellers.  

I don't want to lose the momentum on this, but I also want to try and minimize the potential for tripping and falling right at the starting line if possible.  

If has applicants have more than 3 convictions for anything other than traffic violations, it is an indication that they cannot obey rules.Ask for landlords references.