Considering your goal of house hacking a duplex, while FHA loans are common for first-timers, there are alternative financing options to explore:Conventional Loans: Need more credit and down payment, but offer flexibility. 203K Loans: Ideal for fixer-upper duplexes, bundling purchase and renovation costs.VA Loans: Great for vets—no down payment, competitive rates, and no mortgage insurance.Portfolio Loans: Private lenders, good for unconventional income or credit histories.Hard Money Loans: Quick, high-interest, good for investments or major renovations.With $30,000, mix it up—use it for a down payment, maybe pair with a conventional or FHA loan.

If I’m able to get an offer accepted at below 150, say 130 or 140, and put 20% down, would I be able to pull my money out of it @ the 80% after the appraisal?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

This is typically lower than I aim for but using the proceeds from a 1031 that had massive equity, and given the desirability of this complex, I made an exception. 

At the cost, and given the benefits of most mortgage insurance offerings, is it worth it to pay (however much extra it is)?

I know this is an old post, but I just saw it now and figured I'd add a comment here in case any of you are still looking for a PM in North Jersey that offers excellent service!

I would say most people who enter the workforce and are lucky enough to be offered some type of retirement package (401K or pension) have no idea how to choose from the many options they are given.

(ii) The landlord owns no more than two residential rental properties that collectively include no more than four dwelling units offered for rent.

I would side with your wife on this one, I typically tell people to stay out of AC, Trenton and Camden or any D area especially if you're new those properties are very labor intensive 

I suppose it would depend on the building code if that was offered or not, or had to be hard wired in.