I’d even consider finishing the basement, just well enough for me to live down there, so I could rent out ALL the units.I’d save all my cash and look to refi the property in 1-2 years out of the FHA mortgage, so I could use it again if necessary.

Look for off-market deals, seller financing opportunities, or even house hacking a small multi-family with an FHA loan (3.5% down) if you plan to live in one unit.For creative financing, explore seller financing, subject-to deals, and lease options.

I know you don't have money for a downpayment yet, but when you do, rent out rooms or buy a duplex or triplex and live in one side and rent out the others.  

Living in a camper van for 3 years while working remotely is impressive — that kind of adaptability definitely carries over to real estate.

So you can buy a four flat, live in one unit and rent the other three, but you have to live in one unit on the site. 

For example, I live in Gilbert, AZ, which isn't exactly the cheapest place to live, so if I begin to look for a house here in AZ are the lenders going to want to see 300k-400k$ in liquid assets for me to get approval for a mortgage (as the homes in my area are around 800K-1M)? 

Quote from @Veronica Williams: Hi, I am on my first flip, live in WA state found a partner in Ohaio, the rehab is in OH.

Find a 2-4 unit multi and live in one of the units.

My current options: rent out the current 4 bed 2 bath house that I own and live in so I could move into the 300k house and remodel while I live in it.

We lived in Aiken for 1 year prior to that.