Yes you can, If it wasnt done properly the first time, it maybe a good idea to have a different accountant take a look.

Nowhere is wholesaling the attractive “lifestyle” promoted by people with something to sell you.  

I believe I can demonstrate that the property was originally used as a two-unit dwelling, which could strengthen my case.I want to ensure this deal is still viable and that securing the proper permits is realistic, as my financial projections are based on this being a multifamily property.

This means the lender must (1) reject any payments from that point forth (2) comply with providing proper notification (3) allow a certain amount of time for the borrower to pay the loan in full and (4) auction the property off in non judicial states.  

., so make sure you're familiar with those to avoid any issues.It sounds like you're on the right path, and with the proper guidance, you'll be well-prepared to make your first purchase.

Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I would also try especially in the beginning at least quarterly to complete some routine maintenance and make sure the house is being taken care of properly. 

The short answer is that the prices although low did not justify for a proper business model. 

not everyone's lifestyle or family situation permit but it's a great way to get started.and i agree with the others... 100% leverage is very risky. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.