I used CrossCountry Mortgage, which provided a premium rate of 5.5% for 30 years.

My plan is to rent out two of the rooms to help cover my mortgage payments.So far, the property appraisal has been completed, and I've set up home insurance.

After I was done pulling a permit for a garage conversion to give me a proper master bdrm, walk in closet, mud room and last but not least 2nd badly needed bathroom (it should be against the law to only have one bath in a home) I got quotes for a "rough in" for the toilet in the bathroom that were anywhere from 7k to 22k.

I am also a commercial mortgage broker on 5+ unit multifamily.

.$150k down, $450k mortgage.4 out of 10 units were empty. 

I am looking to buy in an area that I would eventually want to settle in and collect rent for a few years to help pay my mortgage and if I want to, eventually take over the whole home as my family home in the future. 

The bank is going to love you paying that off.Could you get an equity line to give you the cushion and keep this cashflowing property with a low interest mortgage?

If you are doing a major remodel or substantial development this will quite often trigger the need for a properly sized system to be installed.

I'd tell them they need to give proper notice-if that isn't in the lease, then check state laws (30-90 days). 

For example, you wouldn't be able to: (1) take out a mortgage on the property; or (2) sell the property at its market value.