Ask them to show you a spreadsheet on why this makes sense.

Does this strategy make sense?

house in decent condition . no application / no interest so far.is that make sense?

And buying in this high rate market makes even less sense as the near term cost of ownership is much greater than renting.  

I wanted to share the numbers and want to make sense if it's a good deal for us according to what we are looking for.Price: $450k (agent said that we can get it down to $420k)2 Units (1 bedroom in each unit)Mortgage with 3 year fixed comes up to around $2.3kInsurance and tax is roughly $400Rent per unit is $1.4k so if we move out then total rent comes up to $2.8kThere's a detached ADU (garage) that can give us another $100-$150 if we rent it for storage and there's a scope of converting it into another unit later on.So currently rough calculation says that it can cashflow up to $300 per month.

I'd love to get a sense of how LPs are fairing these days.

@Jonathan Greene Makes sense.

Selling might make sense if you'd rather free up equity for a down payment or other investments, but that 2.25% rate is hard to walk away from.

Only do a deal if the numbers make sense.4.

Exploring FHA loans makes sense for a low down payment, but keep in mind the competitive market may require some flexibility.