Decision making process different for primary vs investment?

[Ron Todd]

Hi BP,

I found a REO property that I can get a little under market value, but not the great price I was hoping for. I want to make this my primary home that I grow old in. My question is, should I treat this decision differently than I would an investment property? I won't have much equity intially. It would be unlikely to rent for a profit, but there is plenty of opportunity to update the house and add value that way. Again, I plan to live here forever so my initial thoughts are that it's not that big a deal to have little equity or ability to rent later. I'd love some feedback (to include don't let emotions drive your decision)!

[Ron Todd]

@Eric Carr Thanks, that makes sense. The comps I got from the realtor for the neighborhood are all over the place. They range from mid 100k to over 400k. It's hard to narrow down more accurate comps because the homes are all very unique in this neighborhood.