Down the road you’ll get an inspection but to make sure you don’t waste your time and money - verify the age and condition of the big ticket items - roof, HVAC, plumbing, wiring - those capex items.

My other question is: We both have part-time jobs while in school, and we are trying to obtain a mortgage through one co-signer each, are we just wasting our time trying to finance a property this way?

Is it worth having it or is it a waste of money

Get the house in forbearance sold before Halloween, bribe ex wife to cooperate, go to arbitration rather than wasting money on divorce attorneys, have her apply for a permanent modification on her name and income alone.

A lot of people in real estate are sensitive to wasted time.

Seems like a waste of time and effort. 

If you are thinking of multifamily, as in 5+ units, it is a smaller playing field, and you don't want to burn bridges with realtors by wasting their time because you didn't know something.

My DTI is extremely low ( under 5 % ) I have a feeling based on my income and minimal debt that the bank would lend me upwards of a 750,000 $ or more.

Given the age of the home (6 years old), there should be minimal capex for quite some time.

You also need to look at what time of year you are doing a project with the weather and what time the exterior shell would be finished for TI build outs and occupancy available for tenants to open.I am getting stuff for dark for 40 or 50 bucks a foot with minimal TI build out inside.