Need help/advice fast please---House hack opportunity!

[Tim Ball]

Need to know what to do here. Time sensitive.  Your advice/help would be much appreciated. There is a duplex for sale in a great area that I am looking to buy and live in one half.  The price is listed at $240k.  It is very well maintained and no major renovations are needed.  Basic cosmetic stuff, but not necessary.  One side is being rented right now at $1150/month.  This is at bare minimum $50 under market value. Probably could get $1250-1300. It is a  1571 sq ft 3/2/2 each side.  Mirror image.   Taxes are $4,800/year.  

Should I:

1.  Buy this deal at all? If yes, why? If no, why?  Thank you.

2. Buy this deal with hard money?  I can call it a cash deal to the seller and we can close quick, so I can hopefully get it for cheaper and close quick and then refi out of hard money loan. Only thing I will need to put 20% down, which is hefty for me right now.  

3. Buy this deal conventionally?  This would most likely not get me much of a discount on the deal but I would be out of pocket much less, if I put down lets say 10% down.  Its a hot market and I am guessing I will be competing against multiple buyers.  I need an advantage somehow.