New investor help

[Redion K.]

Hello everyone. My name is Redion. I currently own a carpet cleaning business in New York City and am currently educating myself about real estate investing. My family currently owns a home and we have build some equity in it, about 100K and the house in now worth about $550K.I have told my real estate agent to send me new listings that come up and a short sale just came up, 2 family for $425K which would be a great house hack for my family. This seems like a dream price for this house in a great neighborhood and my inexperience tells me that it will be scooped up as soon as it's morning. Is it possible to make an offer on this and put up my house for sale right away and use the equity for money down? Would my house have to sell first? How would you make this work. Again I am new to this. Would the bank consider a few offers before they make a decision? I am almost 100% sure that someone will offer well above the asking price of $425K. Houses like this go for $700K-$800K. Why would the bank put it up for so low when I'm sure they know they can get a lot more. I am confused and excited but them again I am super new. Anyone can help?