A house that's similar, but 10% larger than another usually isn't worth 10% more.

As for the decision, it's really tough for any of us to say without knowing your goals, your situation and the numbers on this particular house.

those 3000 jobs would get coffee and need dry cleaners and cars repaired etc. 

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

@Adam Luepke - Great first house hack! 

@Michael Daniel Ultimately, it's all about confirming what the housing authority pays.

It’s a 2/1 main house with an attached 1/1 unit, sitting at roughly 1,800–2,000 sq. ft.

Your biggest issue is that $50k may not let you get a nice house and have any reserves.

If my spouse was willing to move more frequently I’d house hack a 4 unit every year.

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.