Also, the terms of our offer were pretty ridiculous because it was contingent on:-Us finding two sets of renters and signing leases (in order to get the financing in order)-The owner of the offered-on property buying-out one set of his tenants-Us being able to move in within 60 days of closing How did you finance this deal?

Don't move too fast. 

Would Section 8 accept my proposal to have a full building renovation and force him to move?

That is where you make the move to evict or warn then evict.

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).

Currently, have a property that has been on the market for some time, spoke with the agent and the sellers are trying to move forth due to another property.

So I have no reservations about moving and renting it out. 

Where would you live if you moved there? 

My understanding is that assuming that one has no debt other than the mortgage for the first househack, it is calculated as(PITI1 + PITI2) / (Monthly Paycheck + 0.75*Rent1 + 0.75*Rent2)Rent1 is the total rent collected from the first property assuming that you have moved out and have fully rented it, and Rent2 is the rent collected from the other units in the new multi-family property that you want to buy.Is this correct?

During restretching, we may need to move some of the tenant’s furniture, though we will work around it if we can.