Yesterday was my 6 year anniversary of being a policy holder and I have seen it behave exactly as illustrated. 

I think you are asking two questions - do I buy where I will live and house hack or do I rent where I will be having my new job and investing in another market?

https://thefinancebuff.com/is-home-mortgage-simple-interest-or-compound-interest.htmlSince a typical HELOC is a simple interest line of credit, and a typical amortizing mortgage behaves like a compounding interest loan, it is possible to essentially shift some your debt (in regular large chunks) from the compounding-like first mortgage to your simple interest HELOC, continue to make regular payments on both, and reduce the degree of compounding effect that is present in your first mortgage because the principle owed on your compounding-interest-like first mortgage has been aggressively paid down by borrowing from your simple interest HELOC.

Different markets behave differently. 

Eventually it was sold but was not as easy or fun as it should be have :)