Hey Biggerpockets fam, first time homebuyer here I would like some opinions on if buying a house at almost your max buying power is to risky. 

Many of us who have been around for a long time kind of play off each other in forums to help the flow of the conversation.

You keep the note in play and you do a second . 

Lacey asked for $20K for furnishings and another $10K to convert the garage to a play room and add a pool heater.

- and finally once you do this, realize it will never even be close to how it actually plays out in real life, but it can serve as a guide for what sort of money you may need to save up to try and actually accomplish something like this.

A second shockwave to housing cannot be supported unless we dip below 3.7% unemployment and the median income: house price gets back closer to 6.33 or sub.I think the rates actually show how it'll play out-- a near term dip, a long term buy.

So it isn't a complete waste, you would simply need to follow the strict reading of the law with no private clauses for consideration...I'm not sure how that plays out since technically if the lease is void, so is the tenancy meaning you could terminate anytime and not wait for the original lease expiration...I'm sure that's covered somewhere, but again I'd ask my local atty what to do given this is such a locally specific issue. 

You have to have the staying power to ensure you’re still “in the game” after a bad run.  

Focus on Cash Flow Early On:While appreciation is the long-term play, as a beginner, I'd recommend focusing on cash-flowing properties to provide you with a safety net and help you ride out any market fluctuations.

Many play "dumb" (but is it playing?)