If that makes home buying affordable without putting you in a pinch financially, go for it.

I have 2 properties now one I live in but Short Term Rent it when not home which is a lot.

I have experience investing (own 2 STRs and an assisted living home+business).

Is it a single-family home or condo?

My PM quotes me and does the work on my buys to get them rent-ready and then manages them and I'm local but they do the same for many out of state investors as do many Property managers in Milwaukee such as Citywide Rentals, Welcome Home Milwaukee or MKE Leasing. 

If they just represent first time single family home buyers and aren’t constantly finding off market properties and reviewing deals, you’ll find a better investment through someone else. https://www.kiavi.com/blog/out-of-state-real-estate-investin...https://learn.roofstock.com/blog/out-of-state-real-estate-in...

And he's been here before bragging what he's been doing in previous posts, the chickens come home to roost.

Third, the typical person renting a room is not a home buyer candidate. 

It really doesn't apply as much anymore in most markets because rates are too high and homes are selling for too much. .75% rule is more viable and would be the new 1% rule in this market.

The equity gap can definitely be a challenge but there are still deals out there - typically with homes that were purchased in early 2022.