Does dis make sense? Newbie,little money down in expensive market

[Jose M.]

Hello fantastic humans of bigger pockets,

I come to you today for your expertise. I am looking for my first deal in an expensive market but low taxes. I want to put as little money down as possible, which means the dreaded PMI. My state offers a program that allows me to do that and they will pay closing costs! I am on the hunt for the right deal but because of high costs, it has been difficult trying to hit on the 1% rule. (Q. 1)When can someone deviate from this rule? (Q. 1a) Granted, expensive markets come with high rents but would .9% make sense?

My background - Pre-approved for $900,000 for a 4 family, 800,000 for a 3 family, 700,000 for a 2 family.  Shooting for the lowest down payment, which could increase cash on cash return and keep some cash for the next property in 6 months - year after the purchase of the first deal.  (Q. 2) Does my strategy make sense? (Q. 3) Is it too risky for newbies to jump into high priced properties or expensive markets? 

Please help!  

Thank you.