Low down payment with potential for huge rent increase year over year making house hacking very advantageous in New Jersey.

I have a good amount in savings, and as a first-time homebuyer, I believe I can lock in a low interest rate.

If you already have a super low rate a cash-out ReFi doesn't help. 

If you choose an area or decide to work with people who will take up more time due to the low cost of entry, you may end up paying more in the long run. 

As any savvy business person knows, when demand is low, prices should be low.

I did this in the MS market and while the advantages you pointed out were true.. markets that have slow appreciation and or areas where builders can keep building for low dollar amounts like the mid west.

We are looking into houses on the lower end of the scale at first to get started for a "low risk" (we could pay mortgage out of pocket no problem even if property is vacant for 30 years) house that will give us the experience we need as rental home landlords - and I am looking down the road at potential investment ideas to keep this thing rolling.

@Lucas Helliker I am a multifamily broker who only sells multifamily in the KC metro - typically 5-50 units but go as low as 2 and up to about 72 units.

I have tested it in the past and find that it is way off (usually on the low side) for me.  

Flat fee brokerages have been around forever, as low as $295.