No sense (in my opinion) arguing over $250 on a six-figure purchase price only to end up with the guy who cuts corners to make up for the lower price.

The rates went up big time yesterday btw Once you figure out monthly mortgage payment, property tax and insurance and the total is substantial lower than the market rent then it’s worth looking into.

And, as you have discovered, property prices are much lower in Richmond than in MA.On a personal note, I'm headed to Beverly later this month.

The listing agent did not even respond to my offer and presumably "lost" it among the pile of dozens of offers she received.There are lots of unscrupulous agents out there who will pressure the buyer to accept a lower offer if it means more commission for them. 

They said they could lend the lower of 90% by the purchase price or 85% of appraisal value. 85% of appraisal value is approx 4K less than 90% of purchase price, so now I have to make up the difference. 

"gig" economy, technology, etc), cost of living especially housing, etc, so it will be interesting to see how those changes manifest themselves the next time the economy and markets are stress tested. 

Not trying to negate your project but just saying that you need check your assumptions and their stress test those in your forecast before you get started. 

Instead of the seller paying her commission, it could be used to lower the price or used as part of the down payment.

However, I've already been told by conventional lenders that I am not likely to qualify since I'm self-employed, thus my income on paper is lower than normal.

Well worth it to outsource the stress in my opinion.