In some cases, the rescue artist may have the homeowner live in the home as a tenant and pay rent to the rescue artist.

I was able to check an old listing and it showed it as being 2 units instead of 3 and one bedroom/bathroom less than what they are claiming.Tomorrow I plan on having my pretty wife knock on a couple doors, hopefully she can talk to someone living there so we don't get something substantially different.

Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area. 

My ultimate goal is to save up enough money to invest in a fix and flip property(which my family has been doing for a while) and live in it, until I rent it out and use the equity for another home.For any real estate agents or professionals in general, how do you find consistant deals?

In the case if I don't receive a new address, I'd probably send the letter to my property where the tenant was living and let USPS mail forward the letter. 

And there are even more carriers who would insure co-living rental w/o owner-occupied - for example Obie.

For context, the tenant is an elderly lady in her 70's who lives alone.

What would you do with your current residence if you planned on living in the new one to get an FHA loan?

My wife's siblings have built 2 house on this land as there own houses they are living in The property is a total of 15 acre and each siblings got a portion of the property.

You can probably just go ahead and live in that 5th unit, but I believe whenever you go to refinance it with a bank or what not, the 5th unit will make it require a commercial loan and not residential regardless of what the county records show the property to be.