Luckily this was a super cheap property so I could afford the additional down payment.

The conversation, as well as this decision, left me wondering how many insureds are denied policy coverage and cannot afford to bring a suit against the insurer and are unable to recover their loss.

I really don’t want to squash his enthusiasm, but I also don’t want him to get frustrated if he feels stuck. 

Quote from @Alvin Sylvain: I don't know of any special protection afforded you by placing the property in an LLC.

As home prices or interest rates increase, fewer people can afford to purchase homes, forcing them to rent.

I am frustrated about that but it will be worth it to obtain the grant.

This often leads to frustrated tenants, and unhappy tenants rarely stay long.

They're not just going to sit on it and wait, can't afford to. 

can you afford it?  

I look at baseline affordability and edge just barely up.