The definition of insanity is to do something over and over and expect different results.

Approaching it like that would also automatically set an expectation for the owner to pay maintenance expenses. 

So there is huge risk expecting the 15 year limit to be reality.  

Many early investors put too much pressure on their first purchase and have unrealistic expectations.

Most lenders are going to want to see a few big things from the ownership group. 1) The borrower will be the enitity (LLC, S-Corp, etc) and any owner with usually 20% or more of ownership in the entity will be expected to guaranty the loan, 2) We'll want to see some experience doing similar projects from at least one of the main owners, 3) We'll want to see bank statements showing liquidity enough to cover the intial cash injection (down payment), the closing cost, and some cash in reserve.

What amount of monthly rent do you expect to get? 

Are you essentially saying the expected higher interest rate is the main issue with the strategy?

But when your monthly profits are less than $2000, then I’d make sure to have some reserves, because Murphy will come when you’re least expecting it.

Cashflow may not be immediate but if you run your #s, you'll be able to see how long it'll take to cashflow and what kind of equity you can expect to build within your first few years of house-hacking.I began househacking in 2010 while working an NYC job (Health + Hospitals Corp., formerly HHC) earning a base salary and overtime pay that are nearly identical to what you posted here.

I expect you will need a permit and not be issued one.