Thanks for the thorough reply.
I couldn't remember who moved in with who but I do remember your threads about your current (most recent?) roommate. I remember your threads about how difficult a person she was before you moved in with her, people on this forum telling you not to move with her, then you moving in with her. But I see you've been convinced not to live with someone in your space again (who is not a spouse/partner).
Those things you mentioned (i.e. helping my mom, etc.) are just as important as savings...to me.
I'm just acknowledging that this is a priority for you which means that you have less money available for savings.
If I can put 1500/per month towards a house and explained in my original thread I'm accounting for savings specifically for maintenance/repairs for when I do buy (that is outside of my regular savings account)
But you are only planning on 10k for maintenance etc. That's not enough for a multi unit dwelling. You could go through that in a few months if you had multiple vacancies and an appliance breakdown. I just want you to carefully consider it.
Why wait past another year? Because there will always be things that are 'as' important to me as saving...even a year from now.
So that you have more money. A few months ago I was laid off AND I had to pay a 5k house bill for some remodeling I had done and I couldn't put it on a credit card, AND my fridge could die any minute. Fortunately I have savings so I wasn't stressed about it.
Today I had to leave work early to met a house inspector because I am renting out a room. My county just recently changed the rules so I am no longer compliant, and I got a citation for it. That's the sort of thing you have to deal with.
especially when I'm shooting for a mortgage less than I what I pay in rent (at least that is the goal)
Well say your studio is 1150.
Condo: bought for 114k, 3.92%, 30 year
Mortgage: 539
Taxes: 85
Utilities:150
=774
That seems better than the studio but remember you are on the hook for maintenance ( typical is ~ 1k a year which is 120 a month). Also remember that the downpayment is ~20,000. which is like spending an extra 333 dollars a month for the next 5 years. That total is 1107, not that different form the studio. Though I do know you want to stay for more than 5 years.
TLDR: consider waiting a little longer to buy a condo; I don't think you have enough cash flow to consider a multi-unit building.
If only you coulda seen where I was 5 years ago though!
I know! I've been reading your threads since you had bats! That's why I'm so emotionally invested :-)
Unit I got numbers from:
https://www.redfin.com/GA/Atlanta/375-Ralph-McGill-Blvd-NE-30312/unit-1704/home/24564508