Being able to make more money from the property and financial justification is typically not considered a hardship.Could you put the property under contract contingent on going to ZBA and getting the other units approved?

I would love to achieve financial independence (who wouldn't?)

We are using this experience to teach our 2 sons (age 13 and 10) about financial management and help give them some real world experiences. 

I'm interesting in looking at markets in other cities and would like to get involved in multi-family properties and as I continue to learn begin innovating.The ultimate goal for me, like with many, if not most, others, is to attain financial independence as well as security.I'm super excited to get involved and learn as much as I can within this wonderful community!

I want to know that when I am crunching the financials I am not missing anything!

@Marc WinterI would say, I would kind of need to structure the deal is such a way, or atleast, considering my financial situation, it would make the most sense and have potentially less risk than using a HML, insofar as the concerns you mentioned can somehow be addressed within the contract.The house in question has an ARV around 225K, around 25K in repairs and I would offer to buy at no more than 140K.The 10K I have to work with would not cover the downpayment on a 140K loan at 10% with a HML, unless I structure the deal with partial seller carryback on a note for 50K payable after the sale is complete, in which case I would need a loan only of 90K which would leave me 1K to cover interest payments, assuming points are rolled into the loan and a bullet loan is not an option.She is my neighbor and I'm on very good terms with her.

This would also be 50/50 split of financial investment work and profit.

My goal with real estate investing is to ultimately be able to provide for my family financially and pass along ten or more rental properties to my son.

Money Mustache about becoming financially independent as an Airbnb host.

If the parents are financially irresponsible, there's almost zero chance you'll get any money out of the kids so it's a waste of time.