@Chris Mason the reason the spouse was left off is because of the pass through treatment of LLCs/sole proprietorships and the combination of being married.One way to get the treatment the OP is seeking is to set up separate C-Corps that provide services to each other.

(But as you can see, the OP now seems to -agree- there may not be one - for THEIR situation)...

We do, but this is an appropriate forum for a finance question regardless of the jurisdiction in which OP is operating.

@David Krulac, I am sure you can negotiate down, especially with volume, but I wanted to give OP an idea of the "retail" rates, particularly since it seems like his first unit in that market.

I'd guess the OP is considering Johnston or Harnett county MH w/ land (just a guess), where rents are more reasonable.

I'm like the OP, I'm in CA for the $.

Hi, I kind of gave up on the idea of house hacking within my area because of a few factors:High prices in NY for not much value in my opinion.Currently like where I am living and am a bit stuck there due to it being a co-op and gf not being able to rent place out for more than 2 years at a time.Then I thought:FHA loan could allow us to buy a higher cost multifamily property (if it makes sense) for very little down, and use a 203k loan to force a bump in equity if done right. 

But then you look at the posts and they're just a broken record of welcome to BP regardless of what the OP says. 

As far as 3% down, I haven't seen that with any bank on an investment property unless you are doing what the OP is doing and getting a multifamily and living in one unit.  

Over the long term, the consensus for all Op expenses here on BP seems to be close to 50%, not including debt.