That only deferred he taxes.

TY very much for your guidance, @Dmitriy Fomichenko.Lenders (at present time of Sep 2021) who do not initiate Non Recourse loans:1. 

It is not necessary to be present for the closing as that can all be done remotely. 

My partner and I have presented a contract to a seller (who is also an investor) who is out of state and will not show property without an accepted contract first.

For a multifamily only your % of personal use of the building will qualify for the 121 exclusion (2/5 year rule)So if you occupy 1 unit of a 4 plex (assuming all 4 units same size) 25% of gain can be excludedYou can however combine this with a 1031 exchange and defer the gain on the other 3 units into a new rental property 

I tried to get creative with my terms and presented the benefits of seller financing.

45k liquid sounds about right for the numbers as you presented them.

Unless you plan to pay cash for your properties, get pre-qualified for an investor loan, so you will know how much credit you will have access to.The end goal - This is usually something like $10,000/Mo. income, in present value dollars.Time frame - The shorter your time frame to reach your goal, the more initial capital and credit you will need.Your plan does not need to be complex or in any specific structure.

Thus, our mutual opportunity is to try and stop the current rent control initiatives by presenting meaningful alternatives, such as the ones suggested earlier in this thread. 

It sounds like the photos they presented you of the closets were used to help justify the full repaint.