This is going to keep your bid honest, rather than lazier and keep your cash position stronger. 4) The only time you spend in this, is finding & closing on the quality assets and playing devil's advocates for repair/rehab/fixing costs.

Negotiating is a skill that needs to be practiced and consistently role played to get right.

Money makes you happy only so often.But a good place to work keeps you happy every day you show up.Yes, 𝗺𝗼𝗻𝗲𝘆 plays a vital role.But 𝘸𝘩𝘦𝘳𝘦 you work?

Others noted that the appreciation play could make it worth keeping, I tend to look more heavily on appreciation since real estate investing is more of a long term game.

Maybe talk to the city and see what the process is.Now of course you don't know how things are going to play out.

I want to play the long game. 

If it's a long-term play, the potential savings on PMI with a conventional loan could be significant.Have you compared rates for both options?

A 4-plex would be ideal and you could play around with doing 1 long-term, 1 mid-term, and 1 short-term, plus you, if it works on your area to upgrade your income.

Yup this is right out of the Sub Too guys play book. 

Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area.