Any advice would be greatly appreciated, one answer I was attempting to find for my self now is how does one typically finance such an undertaking?

Do lots of research, and get a good team together before you attempt a flip.

If they stay beyond 2 months, then they will be breaching my contract and hopefully I have some legal grounds to attempt to ask them to leave.

@Adam Martin I completely agree on the tenants that have lost their jobs etc. but some tenants have provided zero proof and have not even attempted to pay $1 nor have attempted to come up with a payment plan.

Attempt to change the product or agreement, and you'll have some consequences.

I did not attempt to negotiate with her.  

Which would be a material misrepresentation of your circumstances in an attempt to obtain a mortgage loan. 

I've let in one or two stinkers despite my best screening attempts."

I attempted to recalculate this and the calculation is close, but is off by $5 using 1.00% and ~$50 when using 1.05% (which is what it should be using, I believe).

You cannot compare single family homes to multifamilies when attempting to determine the ARV of the multifamily.