She also issued a multi-page memo when form 3115 (repairs vs capital expenditures) came into effect explaining the ramifications to real estate investors, and whether and how they should file the form (All this was included because you were her client, and she files the form for you.) 

My issue with that request is that if I convert the house to a long term, I'd lose at least $600/month of income vs the mid term model I currently have.All that said, my DTI sits at 58% with the models they use.

You will only see what you want to see (good deal) and not what you should see (the basement, the issues, the block values).

The issue is there are too many of these “gurus” on social media that are preaching S8 to everyone and how great it is.

Will you have the time, resources, and mental commitment to dealing with tenant issues, maintenance, and other unexpected challenges that arise with property ownership?

a good deal for a SFH flip would be the buyer being ALL IN at absolute max 80% of the ARV (including the PP, renovations, assignment fee, closing costs), but a lot of investors would say it has to be max 75%, 70%, maybe even 65%. that said, shoot for 65%, and know your renovation costs. i've used $65/sqft for a gut reno, and until proven otherwise i'm assuming it's a gut job, BUT that PPSF is not always accurate, sometimes there are unique issues with the property that would drive that number way up. it gives you a place to start, though. 

Plus there are several restaurants right in the lake and multiple marinas.Just make sure you buy on good water because it can fluctuate more than Keowee, but this has never been an issue for us.

However, the issue for me is after doing my numbers he'd still need to be way lower than $175k.

Leveraging an FHA 203K loan for house hacking is a smart move, especially with your unique position in a market with unmet demand for student housing page link.

If you are doing it yourself this isn't a bit issue.