She does not want to negotiate a buy out with the tenant, and she is willing to take a pretty substantial discount to sell the property with the tenants (about $50k).After reviewing the ordinance, one of the permissible reasons for evicting is if the owner intends to occupy the property personally, or with a family member or resident manager.

The two big reasons that multifamily makes more sense than single family are scale and reduced expenses.

For instance I know they are a calibration tool for estimating the value of a property or lease, but do people use them for other reasons?

Where it can become really tricky is that I have heard of one instance where the delinquent owners didn't file the exemption then after the sale and 6 month period were able to claim some reason as to why they weren't able to file the exemption and were able to get their property back after improvements were made.The court does require that anyone redeeming a property pay 25% interest on the purchase price plus expenses to maintain and secure the property (not upgrades).

No particular reason. 

All your goals are very reasonable and achievable!

We expected it around 50-60% but the reasons listed above we couldn't get it.

(...which was part of the reason for getting my license 4 years ago). 

I am closing on my first property today, a 4/2.5 SFR that is almost rent-ready as-is, and should cash flow reasonably well.My plan is to buy 1-2 more properties in Austin, then branch out into other areas of the country.

This may indeed be the reason to refi after the first unit is turned and you basically swallow the costs of the second turn in order to keep your current rate.