Just curious how did you find the owners contact info for the multi family?

However, Google seems to suggest that the interest rate could be quite high and lenders won't lend as much since the land is vacant.To put my situation in context, I am currently working a W-2 job and my family and I are renting, so I am hoping to find a suitable multi-family property such as a duplex to move into for a house hack.

Bankruptcy does not necessarily reflect the person's track record or ability to pay.

But I had a question about buying and holding a multi family property. 

But in this case, since we will only be needing the property and tearing down the home what do we use to: 1. come up with comps  2. develop my repair estimates.My guess is that I need to find other older properties that have been bought, torn down and turned into multi-property homes in the area...Any help would be greatly appreciated!

Don't wait too long because rates are going up, but fix your credit and buy a multi family property. 

Ideally, multi-family.

@Damien L. if you don't want to create a new business entity yet then you can appropriately track your income and expenses and then use Schedule E on your regular 1040 tax form.FROM IRS.GOV WEBSITE:Use Schedule E (Form 1040) to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

Some people want SFR (single family residence) or multi family (2 units+).

Saving 50% of what you already make shows you're on the right track, but anything extra can be saved at 100%.