Do you need to restretch it when the unit is occupied and did she know you were going to do it? 

If it's just you or just you and a partner, your best bet when looking to house hack a multifamily is to look for uneven unit sizes.

this is somewhat true. depending on the size of the "skeleton". what we found from being in renovations for 8 years and new construction for the last 5 years nationally is that what actually makes the money is design, entitlement, land acquisition, etc. you can pull every lever in new construction. it's more active and you have all the control. if you don't make money it's your own fault. talk to any lender who looks at deals they would agree. banks prefer ground up at the regional level who see deals than existing renovations.

I understand that I should have a separate bank account from my personal checking/savings, but based on my research, this first deal won't necessarily provide cashflow with me living in one of the units (it will when I move out).

I've done both a HELOC and a cash out refinance on my current house to buy my 9 units and it may not be the most efficient way to purchase but it has allowed me to own 2.5 million in real estate and have 500k in equity that will grow at 3% or $75k a year with normal inflation.   

I think I'm an accidental owner of a few rental units in the metro-Atlanta area.

The red tagged units needed to be moved off the beach. 

I was looking at an apartment building 100 units for 17 million with a 10 cap. 

What is the level of involvement you will have?

My HOA has said they're not responsible, but I have been told that the issue won't be solved unless all the units (less than 10 total), are sealed.