Hi @Devlin Mcconnell, welcome to BP.While @Jake Hartnett is correct, not having a full bath will limit the potential rental pool, in the Boston area that might really be a big issue and might actually be a benefit.If you are close to the city there is obviously no shortage of "young professionals." 

I think you're primary point is correct: both loan terms can work, it depends on what you want to get out of the investment in the short term.

And if that is the case that there is a leak between the meter and the house, that is my responsibility to repair, correct?

People in the small residential market seem to forget that in the larger multifamily world cap rate is the by far the most important metric, since as you correctly say cash flow is dependent on down payment.

First choose correctly.

Get the note papered up correctly so that you can sell the note later, if you decide to do that. 

I am trying to word an email correctly, and only remember hearing the term used once before.

How do I make sure Im practicing evaluating practice deals correctly ?

In other words to me it seems there is a conflict of interest for the same bank to refi me as in the end if done correctly I should no longer have PMI and a lower payment both of which is less money for the bank.

@Lisa LopezYou are correct !