My initial thoughts are degrees in accounting or business.

I can see through pictures that some parts of the house could use a touch up, paint, new appliances, or tile in the bathroom but I'm having trouble quickly understanding what this number would be and what I should make as an initial offer. 

I was initially wanting to receive a conventional loan and pay a downpayment in cash from savings and buy and hold properties. 

So we've been working on finding the best way to finance the rest of the property for the initial purchase. 

Especially Single Family Residences (SFR's) which is what I recommend you start with too as an initial exit strategy for investing. 

The deposits for both the initial and extension periods are always refundable. 

When a Loan Officer or Mortgage Banker has initial information including assets, income, credit they run DU and sometimes also LP which may have enough information available on past appraisals done in the tract.

It looks like break even at best at least initially while I still have the 401k loan.

You haven't provided enough information to assess if this is a good multifamily deal outside of the initial CoC. 

Money needed to buy and rehab - $160k purchase, $10k rehab, $10k closing costs = $180,000 - INITIAL OUT OF POCKET = $7,500.