Clearly a conventional on a 2-4 would give us parameters to work within but I'm not sure how to go about looking into the larger buildings in regard to financing, knowing that they take income generated from rents into account. 

From an income generating point of view, Miami properties have been over valued for years.  

Are you looking to buy and hold to generate cash flow, or wholesale (dealer) or flip?   

I had wanted to join this insurance company for years thinking that I had to be employed by a company who was a member.

I do this by charging a rental rate that is inline with mortgage rate which is usually less than rent, this is what generates all the interest. 

My credit is perfect and I have no debt, problem is being self employed my income on paper is not that great.  

But if you like managing vacation rentals and want to make it your job (pay yourself the PM fee) or you live in a desirable area and want to generate revenue from your home while you travel, it could be a good option. 

Objective is to purchase a an owner occupied 3/2 duplex or triplex, with a 75-80% ARV (for under $325k; financing 80-85% via conventional mortgage via portfolio lender), in South (north of William Canon) or Northwest Hills of Austin, Texas that generates enough rental income to pay my mortgage, taxes, and expenses enabling me to live rent free for a year and then cash flows positive the year following (so I can purchase my next property).

In general, I would say "what does your employment contract say?"  

However, in my situation I was mislead by my employer into thinking they had the capability to sell mortgage notes for Chase Manhattan Mortgage Corporation.