My goal for this deal is to purchase a cash-flowing multi family property to buy and hold.

If you're in a high-cost area, consider out-of-state markets where you could buy a rental property outright. 

I am currently looking into private lending on another property in either Illinois or St.

I own a home and have one rental property in Southern California.

The property had foundation work done just prior to the sale but continued having problems, even after I hired a second contractor to correct.

I don't want to take $$$ from my other properties.

On properties that stay pretty booked up too. 

Getting into almost any property in Charlottesville for under $200,000 is quite the feat.

Quote from @Brendan Doherty': I’ve read in books of people getting past having to live in the property they own so they can rent all units year one of ownership(living on the property with an rv).

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.