House hacking before inheritance

[Account Closed]

My sister and I are in our mid 20s and want to put all of our money into a 4-6 unit in Chicago (West Town area) to house hack -- but there's more to the story...

Downpayment: $230K

Rehab Budget: $50K

We are thinking of levering up 75% for a $920K building and rehabbing it while we live in a 2 bedroom unit. 

We've been saving and living with our retired parents in the suburbs while working

A large inheritance is looming from a grandparent. My sister and I will both receive $100K and our parents will receive 5M (and they're retired). So we have this idea: since we have a lot of money now (the $230K + $50K), and we will receive the inheritance in 5-10 years (the latest), and our parents will have millions, we thought we should start investing now and later do deals with our parents. 

So that frames our reasoning for putting all our money into house hacking. 

Here are my questions:

1. Is that enough to buy a large enough building in West Town that we can occupy a unit and still produce the income to supplement our low incomes

2. Can we get the loan with these low incomes? The lender would underwrite the building and assign a DSCR to stay above, right? Or do they need proof of income? My sister's working minimum wage and I'm working for a multifamily listing agent making $25K plus small bonuses.