If the rate is reasonable then it may make sense to try to save fast to get to the 3.5% down payment on a double or triple - househacking may allow you to increase your savings rate and pay down that loan even faster.As for estimating costs, closing in NY factor at least 1% of the mortgage amount for tax, plus $1500-2000 for lawyer, title and fees, then the amount required by the bank for escrow will depend on the actual property taxes and insurance.

If you need help with funding or additional guidance at any stage, feel free to reach out.Best,Drago

The loan on a property shouldn’t factor into the taxes.

You may even be able to fill additional rooms if the potential resident knows others who are traveling to your area.3.

I can't remember exactly, but I believe the main ones had to do with additional parking restrictions and water.

I understand there are other factors such as pitch etc. but i am trying to get ballpark range. 

Certain circumstances may require additional guarantors, however, just one will suffice most times. 

I will split a giant master room into two smaller rooms and will convert the living room to get the additional three rooms.

What are some key factors to consider?

Good location is a big factor.