How do you determine how much you can spend on a new property?

[Griffin Myers]

I graduated school last May and want to dip my toes into REI by "house-hacking" (in Cleveland). Per some other contributors recommendations, I'm in the process of trying to get pre-approved for an FHA loan, but some of the lenders have asked me for property info, such as Purchase Price and County/State information. Before I answer these questions, I would like to hear how everyone determines how much they can spend on a house, so that I can narrow down my universe.