The question to ask is:  Is my housing cost better by househacking vs renting.  

I feel this gives me the flexibility to find the right solution for my client and not just sell what my bank offers.I'll also throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).

Do you mind expanding on how you attained closing cost and down payment?

However, the road block I face is getting to a point where I think it’s an “ok” deal (meaning it’s not fulfilling the 1% rule, but more like 0.75% and little to no immediate renovation cost/typically a new build townhome) and then I start to question whether I could find a BETTER deal if I just keep looking.

My 70 % rule...ARVx70% - rehab cost = purchase price.  2nd question....

The proforma's would have been accurate but, what they didn't allow for, is the turnover cost between renters that left excessive damage.

Once it's rented, use that rental income to help offset your DTI, which may help you qualify for the second property sooner.Partner with Investors: Team up with someone to split costs and lower your personal DTI impact.

Partner with a Real Estate Tax SpecialistThe tax code is complex, and mistakes can be costly.

The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

This is just a brief post to give some insight into the local maintenance costs in the Metro Detroit area.