Most millennials are ditching the suburbs for the city lifestyle, so it would certainly be more lucrative to have a buy and hold there.

I'm in analysis paralysis... but I think it's definitely necessary for a newbie to calculate and proceed with healthy caution.

The biggest drawback is the potential life style change but if you and your wife are willing to make the sacrifices, there is some money to be made. 

Over time, the stock market will provide healthy returns, but it comes with lots of volatility (ups-and-downs).

A personal home is a lifestyle choice not a investment and will effect your ability to save for investing.

Also, it could be tricky going from a college lifestyle to starting a career and becoming a homebuyer all within a month.

They only talk about their dream vacations and lifestyle and try to make fake promises with everyone.

With only 10K the fasted way is like to drastically modify your life style to embrace the frugal and save every penny going forward until you have enough for a DP, closing costs and a reserve fund. $10K after closing costs and holding back a reserve fund will leave you about $5K for a DP.

If all of the units are dated, assume a healthy number for regular repairs, and assume at least 1 major and 1 minor appliance to be replaced yearly for the whole building. 

He says,"I buy well within my means, with a rock solid personal financial foundation, and spend extremely little on my lifestyle.