I haven't done house hacking. From what I understand, it's taking out a mortgage on a duplex or triplex, live in one unit, and rent out the others to make more in income than your mortgage payment. Get paid to live in your house before you fully own it.
Instead, I rented out one room in house and rented out the others on Furnished Finders and Airbnb, and eventually I moved out and rented out the whole house for 1 year leases on Zillow. I managed it remotely, and rather badly, for one year, leaving major repairs until 6 months in, until I could fly back and take care of it. This year, I'm managing it with a local helper to take care of day-to-day things, in exchange for 12% of the rent collected.
Here are my tips! which may or may not be useful for house hacking.
Visit the neighborhood and talk to some neighbors. Ask them what the neighborhood is like and what you think someone moving in should know. Also tell them your plan to house hack and ask them their thoughts. You don't need their permission, but you're mostly gauging if they have a strong reaction or will oppose it. I recommend you consider two or three houses in your final search, and choose the one where neighbors are most welcoming to you and your plan. (Plus, you get a built-in friend right when you move in).
Check the previous property taxes and selling price of the house, on Zillow or on public county records. If you are paying much more than the previous selling price, expect your property taxes to go up. For example, if the house previously sold for $100k and is taxed at a value of $50k, and you are buying the house for $200k, your might be taxed at a value of anywhere between $50k up to $200k. Property taxes get reassessed at different time periods depending on your county, so you might have a few years at the old rate.
There are tricks to lower it. If it's your primary residence, you can file for a Primary Residence Exemption if you live more than half the year there.
Ask when the last time the roof was done. These typically last 30 years and are a major expense ($8k to $15k)
You'll need a lease contract with your tenant. The boilerplate contract for your state that turns up on Google search is usually fine. Here is a lease I use for the beach house.
https://docs.google.com/document/d/1np2PWGJHpWpBfYKYODLGwg36etfcnvM-12k4oPf6Gig/edit?usp=sharing
You might decide to list your units on Airbnb, Furnished Finders, or Zillow. Airbnb is good for short term stays for more money, but you have to spend more time cleaning and greeting guests. You might also get party people who won't take care of the place, so you spend more time screening guests. There are 5-star ratings and testimonials, so you can usually tell which guests are good, and don't need references. Furnished Finders is good for traveling professionals who need one month at a time or longer rentals. There is a built-in background check tool that costs each applicant $40 and there are no reviews, so you have to call referrals.
I've also heard people have good luck asking potential tenants for their facebook profile, but you have to be careful who you ask this because it could be used for discrimination.
I spend about one week in between tenants (not all day, typically a few hours per day), coordinating showings, drawing up leases, calling referrals, arranging cleaning and repairs. This is the most you have to spend, so 1 year leases let you spread it out. Each month I spend about one or two hours billing the tenant for utilities and rent, and more if there are repairs that need to be made. Your actual time commitment will vary.
This can either be a local company, or the realtor who sells you the house, if they are friendly and interested. 10% is average property management fee for doing most everything: hiring contractors to make repairs, meeting them and letting them into the house, collecting rent and utilities from tenant.
Here's a property manager contract I use
Apply these tips with grains fo salt, your mileage may vary. Good luck!