There is a healthy balance. 

It's a huge area with many different lifestyles to offer. 

It's an entire lifestyle and most people aren't even willing to do something that simple.

Finish your education, get established in a career with a couple of years of employment and use that time to live the most frugal life style possible to save up the cash needed for the necessary DP and reserves.

There's plenty of healthy options for you.One more thought - Once the insurance company is done that property should be pristine - and done at their expense. 

well if they intend to and do close, all is well and right in the world, BUT if they went into the deal with no intent of closing if they didnt find a buyer for the contract, not that creates a Litigateable problem with the seller, and license law problem because they intend to collect a fee for the contract by marketing the home with out a license. they can argue "But im selling my contract not the house" well thats like saying im eating healthy because this Jelly filled doughnut has fruit in it, no one is buying that argument. 

@Sanjoy V.A deal that produces healthy returns with long term debt in this market shouldn't give you valuation trouble in the future.

If you're looking to spend more, there's always wood-look ceramic tile which a lot of restaurants and hotels are using these days.If it's not a large area and you have a healthy budget, there's always oak.

Everyone likes to talk about the flashy lifestyle of Donald Trump, nobody reports on Bill Gates's escapades with women.

If that is the case be very careful that your HELOC  (with interest payments) will be paid with the rent from the new property  by a healthy amount to help for tenant turnover and repairs.