Regarding the mortgage piece, remember that, when owning outright, you can take as little or as much as you wanting; however it's not a rotating line of credit so if you want to do it again, you'd have to apply again. 

However, this rule does not apply to 2-4 unit buildings.

By using someone outside the city, the seller has violated whatever ordinance applied.

I’ve applied for the permit with the MOA and because my place has more than 3 bedrooms, they are requiring me to put down a $5,000 deposit as surety for their taxes.  

The restrictions do not apply to a landlord with 3 or fewer rental units.

I use an IEN from the IRS to get tax breaks on purchases and to register or apply for strain programs and licenses.

I've heard of these "most common" approaches, but neither seems to apply for our situation.

I had paid money to learn the 70% rule from a very experienced investor and was eager to apply my teachings.

Welcome to the CommunityRead articles, listen to podcasts, attend meetups to network looking for deals, buyers, private money lenders etcStart forming capital at the household budget level to apply into your portfolioFocus, avoid paralysis by analysis thinking you need just a little bit more info (its lifelong learning for all). 

Probably the least accurate option though IMO and be sure to adjust for the way properties are assessed in the location as well as apply the median price increase/decrease for the time period since the last assessment.