This particular HOA seems very high so I’d normally say don’t do it.

Then at completion and final inspection, it’s rolled into another loan on normal payments.

Currently shooting for around the 500k mark as that’s affordable and lands me close to downtown for my preferred lifestyle, if it’s my own condo that I buy first.What would you recommend, buy your own home first or buy a rental (an investment property?)

you also said their pro forma's are bogus so what do you normally do about that?  

@Nate Lee In a normal real estate market or even a buyer's market, FHA loans (203b & 203k) are very commonly accepted. 

Your next door will probably need more of a cash savings built up but it should be within reach in about a year depending on your lifestyle.

I am in the Bloomington/Normal (Illinois) area.

UNLESS you're just running this as a lifestyle business and don't care about your return.

Is the 3% buyers agent commission normally paid on top of the 5% buyers premium, or is the 3% taken out of, the 5% buyers premium?

As we progress through the 2nd half of 2021, we could see the Austin market return back to “normal.”