My question is if I acquire this property will the permit for the multifamily dwellings and "commercial space" roll over to my ownership or will i have to request the permit again/change the zoning ?

"Success is the ability to go from failure to failure without losing your enthusiasm." - Winston Churchill 

I will be the first in my family to ever do this and I need all the advice and help I can humanly get.Open minded to Wholesaling as well, however I don’t quite get it yet.

Any room or space used or intended to be usedfor sleeping purposes in either a dwelling or sleeping unit.Every living room shall contain not less than 120 square feet (11.2 m2) and every bedroom shall contain not less than 70 square feet (6.5 m2) and every bedroom occupied by more than one person shall contain not less than 50 square feet (4.6 m2) of floor area for each occupant thereof.Not sure why the inspector is saying there is no definition.  

So at the moment I feel confused how to proceed, should we first buy a multi-family and stay in our current dwelling, or house-hack and rent out our current dwelling; what should we use for making the down-payment and how should we finance the rest?

A quick Google search shows me Texas New Construction is exempt if "As a new residence of not more than one dwelling unit which has not previously been occupied for residential purposes".I would verify this information with your state or real estate agent though. 

We had dwelling insurance (fire) policy for this rental house last year but I feel like it doesn’t protect us well.

Page 565 of the FMSG: Dwellings with unusual layouts and floor plans generally have limited market appeal.

We had no idea to what extent, but 5 acres on Lake Charlevoix and with three potential dwellings/rentals on one parcel, it would be a cash cow How did you find this deal and how did you negotiate it?

:idea: I guess that wouldn't work with our modern day human rights laws, but I bet we wouldn't be maxing out those credit cards as much.