Is it the right time to invest into house hacking as a first time house buyer?

My business partner and I really want to get into real estate investing and the first step in our journey would be to buy a multi family home and house hack the property while living there. We have signed a BBA with an agent and are pre approved for $500k. We plan to go the FHA 3.5% route but everything we’re seeing isn’t meeting our criteria. No properties we’ve found in the past couple of months have had a decent positive cash flow and it feels like we’ve hit a stagnant point in our house hunting. Is the issue just the area (Phoenix, AZ and surrounding cities) or is the insanely high interest rates and housing prices? Is it even possible to positive cash flow in this market nowadays using a 3.5% FHA loan? Any advice or tips would be much appreciated.