Hey, welcome to BP!
The things that come to mind are;
1) If you are buying a starter home would you consider giving the upstairs/main (better) suite to renters and increasing your cash flow?
2) +1 on the analysis paralysis advice. Take time to research, but then jump in. Try and set a goal for when you would like to pull the trigger.
3) At your age check into the first time home buyer incentive the banks offer. This could be a big advantage that will improve your deal.
4) Have you considered taking on a room mate in your suite as well as renting the other suite? At 22 you are more likely to tolerate a room mate compared to when you are older.
5) This is probably the least popular idea. Buy a rooming house and be a live in property manager. Your cash flow will be much, much higher, but the trade off is you get to deal with big headaches. The pre-requisite is that you should have a tough personality that doesn’t get bruised easily because you will have to tackle some ugly tenant situations. It’s a personal decision, but again back to the fact that you’re 22 and are probably the most willing to get in these types of adventures.
