I have helped many new investors purchase their first property in Memphis and LIT.

The purchase contract makes the buyer legally responsible for the loan. 

I want to purchase my second property within 4-6 months of moving into my multifamily house hack, but looking for a guidance on the strategy to do so.

Equity earns 0% interest (inflation will destroy your purchasing power) your real estate investment will Appreciate or Crash regardless of how much down payment you put on your home.

Step 1: Get preapproved for an FHA loan for the purchase price you are looking for.Step 2: Connect with builders until you find a few that will finance the construction of your home. 

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you are looking at a 300 unit apartment complex with a $100mm purchase price, then typically you want large, diverse economic, growing cities.If you are buying an Airbnb, well this is a marketing game. 

The rule of thumb for me used to be that the property needs to be able to do 20% of the purchase price in gross rental income.

So, you can do a land contract for 12 months, which should allow lender to credit you full value of the land vs the purchase price, but the loan will pay off the land contract, so the lender maintains first lien position.Can't help you with the rest of your question, but you should be able to search for "CPA" here on BP to find experts to reach out to.