But two, what if the board gets together and votes that no more rentals are allowed?  

No more lurking haha...I am looking for advice for house hacking in Baltimore city.

My advice is to make it short and sweet with no more than 10 to 15 lines of text.

This means the rate can adjust the first time no more than 2%, it can then adjust 2% at each adjustment period thereafter, and adjust up to a maximum of 6% over the start over the entirety of the loan life.  

I'm paying about 60 times rent for SFRs in Florissant but those are not rented so it's a little more involved.If you were to apply that ratio to this deal, you'd pay no more than 84k.

I would get a set at the Salvation Army for no more than $150-200 total and charge $25/mo between them as states above.

I also understand if I get a property at 5% down I can lower my living expenses (no more rent since I'll move into the property and I will have renters in rooms to spread out the cost of the mortgage), get into a property that much faster, and get started on my dream of getting into buy and hold properties.My question is, what in your experience would be the more beneficial idea: buy my property really soon at 5% or wait until I can pretty much pay the 20% down?

No more trusting any realtors or "professionals".  

Jon S, in Illinois there are two options after I believe 2007 or 2008, Broker and Managing Broker, there are leasing agents but no more "real estate agent"...

However if you want to name more than three properties then the total value of your list can be no more than 200% of the value of what you sold.