They share the same sewer and the listing agent says they should be sold together because of this.I figured we'd live in the SFH and rent the triplex, but my concern is if this will qualify for 203k financing due to these properties being on different tax parcels, even though they are being sold as a package, so to speak, on the MLS.My other concern/question is, when house hacking, do you approach the financials a bit differently?

Congrats on taking the first step towards financial freedom.

I am looking forward to contributing to the forums, especially topics including: financial analysis and underwriting (a class I teach at UCLA), leasing commercial properties, and flipping v. renting (via my former position at American Homes 4 Rent).

Welcome to BP @Joseph Mananquil  Looking for an opportunity to help you secure some financial freedom!

I am obviously new to real estate, however I am actively educating myself, and would like this first house to be the asset rather than a liability in a long term plan to building wealth. 

In part it depends on what assets you have now to protect.

With in 5-7 years I would like to be able to financially stable, that is to say that at this point I can cover all living expenses as well as be able to be able to purchase a car, or new appliances, or cover medical bills, all without having to worry about if I'll enough money to eat that week. 

If you guys could give me your opinions as well as maybe share where you were financially on your first flip and how you went about your first flip (success stories).

More importantly, a GOOD realtor who takes your criteria, financial situation, short-term & long-term goals into consideration is going to be a huge asset to your REI career. 

I set up my Solo 401K trust (Which is NOT subject to UBIT) through @Dmitriy Fomichenko at Sense Financial and he's very knowledgeable this subject.