Second, I have experience with hundreds of pet owners and it is very rare (in my market) for pets to cause more damage than the deposit will cover. 

That is where the letter of the law stands and to have you covered..

Mostly worried that even if I find a place and the money, that I'll be making a big financial mistake and have little left to cover unexpected costs.

This was so important to our business that we covered the cost of these consumable kitchen supplies for all our owners.

The idea is to purchase a single-family residence where they would help cover the mortgage, or at least reduce my monthly payments.I’d love to hear from anyone who has experience with house hacking!

If they can make enough just to cover mortgages, with the high appreciation of the properties, it's a great investment.

Offering $450K would leave room to cover the $50K in repairs, and since market rents support a solid increase after updates, this could boost your long-term cash flow significantly.

Future AppreciationLynchburg’s market has seen about 5% appreciation recently (4.3% Sep 2024), meaning your property could gain around $110K in value over 5 years, helping to cover renovation costs.

I’m collaborating with an investor who can help cover the remaining balance, but since the property isn’t in the best shape, and maybe fairly priced, but I’m evaluating how much room I might have to negotiate.

Lease Agreement: Use a compliant, detailed lease covering rent, rules, and responsibilities.2.