@Clayton SilvaI think you covered a lot of the angles - the answer is “it depends” - every person is in a different situation and stage of life and some may want to pay points and others maybe not.Right now I would not be buying down the loan knowing the fed will lower rates, which should slowly bring down the 10 year T which would then lower ratesFor me I would guess I would refi within next 3 years so I wouldn’t pay pointsIf I thought I was not gonna refi within 5-7 years then yes pay points

Quote from @Christopher Morris: Talk to a lender to learn your options.

I'm looking into potentially house hacking a small multi-family home, preferably in northern NJ (such as Morris county) or Westchester, NY if possible, but I'm open to other areas that are hopefully within about 1.5 hours (driving or public transit) of Manhattan.

I agree with Clayton about charging them higher rent.

Quote from @Clayton Silva: Quote from @Aqsa Mughees: Quote from @Clayton Silva: Not to be dismissive, but it is almost impossible to answer that question without first understanding what your goals are. 

Quote from @Clayton Silva: It's definitely possible and we have done some similar deals.  

Great points @Clayton Silva

@AJ Exner @Miranda Holland @Clayton Silva @Tanner Lewis @Erik EstradaThank you for the insightful replies.

Thank you @Clayton Silva for that information. 

Quote from @Clayton Silva: Systems, systems, systems.