[Source: TradingEconomics.com]The number of new homes built for the last 10+ years has been chronically lower than the previous decades.​​

They even gave $5k towards closing costs AND paid the points to lower my interest rate to 6% for 30 years.

Since I am out of state, the plan is for us to buy it together and he will make it his primary residence to get the lower down payment.

You will be able to cost seg that property and lower your high tax burden. 

You are purchasing assuming market rents (set by the condition, amenities, location, etc. of the property) so agree that a seller would likely question a request for a lower price or their receiving less at closing. 

Thanks a lot for the replies @Chris Mason and @Gregory SchwartzOur lender said we can do a bridge loan but its around 11%.. id bring in 20% downpayment max, dont want to put too much personal assets into it and the issue is for yr1 w low rents and renovations its def a monthly -3-4k loss. def want an 8% or lower rateNot sure if lenders are ok with an initial cashflow loss, once its renovated we can have market rents and its a great deal after. it listed at 1.495M and we'd offer 1.2-1.25M. i understand the living in part doesnt necessarily bide well with investment focus, but for us thats a big appeal that its in a nice area to even live in

The low rise type buildings without elevators tend to have the more relax rules and also the lower assesments, so they can be a good option.

I am a fan, don't get me wrong. the smaller your mortgage, the less likely you are to refi because rates got lower.

You have an owner occupied loan in the mid 6s today (hopefully lower later).

Harris is not the first person since it already exists.Affordable housing was first targeted under the Clinton/Gore Admin lowering it to an all time low and its at the worse its ever been with unaffordable housing under the Biden/Harris Admin.