This consisted of carpet, laminate floors and paint in the lower unit, countertops, backsplash, appliances, tile in bathroom floor and shower surround. 

Now in terms of how the deals is structured, I am struggling to see how it benefit you.All of the 620k you'll pay will go to your land owner who bought it 900k and is now completely out of pocket while the land still carries a mortgage for 550K.I am not sure how this deal makes sense.Is there more to it?

Please give me your thoughts on this scenario and suggestions on how you'd structure the deal.  

Run your cash flow numbers over the next few years and see how long it takes you to hit 20% in equity (don't forget transaction costs), and there is your target date for the refinance.A 4-plex is considered a residential loan vs. a commercial loan for your 40-unit, which are structured very different and won't have as many low/no money down options.Sounds like a great opportunity! 

Once that's sorted out its about finding out how you want to structure your campaign the nitty gritty things like keywords, bid strategy, etc... 

The property is newly renovated pretty  much all around.New floors, kitchens, bathrooms, paint and trim, 2 carrier ac units, new furnace, 2 water heaters, split electric and gas.Natural gas, pub water and sewer.I will be wrapping closing costs into the mortgage.Ideally, this will be my first home so I will be using this for initially a house Hack, but planning on adding 1 master sweet with walk in closet and bathroom over the empty space above the garage.I was just toying with the numbers to see when we move out if this will make money monthly.

If the deals are structured correctly you can often get a much lower down payment as well as interest throughout the term of the loan.

There are other comps that sold for 530k but have an extra bathroom, garage, and central air. 

Looking for some insight from those who have structured their own deals before. 

I’ve renovated the house from top to bottom, removing walls relocating bathrooms etc. and last year I sold off the extra lot which was now on a new road and 1031 exchanged it for a fixer-upper in Nashville Tennessee, repaired it and that is now rented out.