When dealing with the banks they want to ensure that you have plenty of reserves sitting in the some sort of money market, whether it be 401k, savings/checking, stocks, etc.

Otherwise follow up in 6 months, when he might be more motivated.

I plan to house hack a multi-family of some sort. 

A lot depends on your motivation to sell.

Seller was highly motivated due to a personal conflict with the tenant (knew each other prior to leasing the property to tenant).

You're the only other guy on this board that does these sort of rentals that I've seen. 

What excites me the most is multi-family, BRRRR strategy, and any sort of creative financing to make a deal work.

What's the seller's motivation?

This has always been my dream, and while we all have our stories as far as what motivates us to take the leap into REI, mine is somewhat bittersweet.

Real estate is geographically locked and can easily face economic obsolescence overtime.... and also much more expensive and harder to diversifyI am heavily invested in real estate but the 100 year historical data available for the stock market is a lot more reassuring for its long term stability then any sort of data available for real estate.