Here is a newly created resource on BiggerPockets, which touches out cost segregation, accelerated depreciation, bonus depreciation, depreciation recapture, Real Estate Professional Status (REPS), STR Loophole / STR Strategy, example properties, and more. 

They paid 3.7 million for this property at 29% occupancy. 

I'm new to real estate investing, but have thrown myself into learning as much as I can by joining a Veteran based investment community, have been working with my realtor and looking daily for potential multi family properties in the Dallas area for house hacking, which I've set myself an deadline to be completed by May.

Hope is a bad strategy.The only on market strategy that I think can work is paying cash/line of credit/hard money for a property that does not qualify for conventional financing.

Is the property already zoned multi-family?

Ultimately though, it will depend on the lender and the availability of funds (assistance) available for the demographic area that you are purchasing in.Do you have a property that you are looking at?

Property is on an acre lot so units are separated and very private making it a great house hack.Located next to Benderson Park which makes it a great location for STRing the guest house.

Will the cash flow from the new property quickly pay this back?

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.

The outcome is on going as I just listed all the properties.