Maybe you factor in a little but the majority of the loan is based on the property.Anyway, I hope that helps some with what you are asking but feel free to ask anything else if you need. 

@Jennifer Cogley Minneapolis rental licenses do not list or factor the number of bedrooms.

It sounds like time is the important factor with your partner, not money.

New built probably not going to cash flow when you factor in all the costs.

That might be the biggest determining factor in where to look.

If you are confident it will cash flow once moved out given the worst case scenario, it is a solid deal in my eyes as you are still benefitting from the other factors of owning investment property which includes loan paydown, tax benefits and appreciation.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

Closing costs suck because I pay more at purchase than if I paid cash, but I factor that in when I run my numbers and I make it work.

Factor that in with everything else San Diego already has to offer. 

I am sure they believe they are not bias, but that doesn't mean it didn't factor into their appraisal.