@Jaime Rossini,  there is a lot of info missing in your post to allow a full assessment but here is how I would look at the situation if I was to buy with a view to house hacking (live in the vacant unit for a couple of years).Regarding the purchase, this is how I would determine how much gap financing I would need.Purchase Price + Closing Costs for purchase and new mortgage + Cost to Upgrade vacant unit - How much can I afford to invest as my own initial equity?

(but not zoned for) Property is currently offered at 750k , a property right beside almost identical was sold for 725k on conventional mortgage and it was initially offered for 769k. (5.72% decreased on a conventional mortgage that took almost 4 weeks from pending to sold).So based on this data I have estimated(not exact science) that I could give a lowball cash offer for 550k(maybe w/ some luck) but with some room to go up to 635K (which is a 14% decrease on the listing price and hoping to close fast with a cash offer) 70% of $900k is only $630k, which would be the max you could refi. 

style="-webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 1rem; line-height: 22px; font-family: "open sans", sans-serif; vertical-align: baseline; position: relative; overflow: hidden; color: rgb(52, 65, 77); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; height: 1288px;">BRRRR and a TIP OF THE DAY : )RUN YOUR NUMBERS!!!!

With the market being the way that it is (Early 2021) I offered $180,000 initially with a $1,500 earnest money attached.

I called a different process server and told him that the tenant is smoking in the unit (forgot to mention that in my initial post).

We thought of buying a place in Austin suburbs and renting it out initially and later on (5+ years) perhaps move and live in as well.

There are a handful of things that will make an on-market wholesale difficult, including (but not limited to):- the fact that any sellers agent worth their salt won’t allow your “and/or assigns” language- you need to provide proof of funds with your offer to get the initial offer accepted - your timeframe between accepted offer and when your second deposit will be due is very short and gaining access to the property can be difficult

Also, I thought multfamilies were more expensive to build since you have that many more expensive rooms to fit out, e.g. kitchens and baths.I'm curious what else the community has to say.That's my initial take on it. 

The BRRRR method references getting money to buy the property initially either through cash or hard money, then rehabbing, renting, and refinancing. 

I initially engaged the sellers in October of 2020.