Hello everyone,I am new to real estate investment and live in the northeastern United States (New York).

Hello everyone,I'm currently living in Massachusetts and house-hacking (mid-term rentals).

I would want to live there for a year, refi, then buy another property thereafter.

We got it for $635k, thinking we'd be able to rent out 2 of the units (including basement) and live in one.

. - A dramatic increase in the supply of folks needing a place to live usually results in increasing home prices and increased rents.

I live in the South Dallas as well and would love to meet over coffee.

And to your point the better tenants also want to live there. 

Building codes are continually changing.If you are insistent on living in a property under to today's code, you need to live in a new construction property.

As you imply: there is no set standard for "conservative", but my personal POV is we are going to be living with 6% interest rates for a while.  

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories. 21.64% of the total depreciable basis was classified as 5-year class life.